thecoinrepublic.com
- 1 FLOKI price has revamped from the support zone of $0.00002700.
- 2 Buyers have regained momentum and are stretching the up move.
FLOKI token price charts display a falling channel breakout when it pulled back from the support zone of $0.00002700 and recovered over 30% this week. The reversal in price action conveys the influence of bullish momentum. Moreover, the token has surpassed the key hurdle of $0.00003200 as buyers eye the round mark of $0.00004000.
The token has climbed above the key moving averages and is preparing to skyrocket in the next sessions. FLOKI is poised to retest the upper levels of $0.00004400 and $0.00004600. The trend is intact and fresh long additions were witnessed which anticipates a bullish rally soon.
The Floki token (FLOKI) price was $0.00003512 at press time, with an intraday gain of 1.93%, reflecting neutrality on the charts. Moreover, the trading volume increased by 92.91% to $28.95 Million. The pair of FLOKI/BTC is at 0.000000000679 BTC, and the market cap is $350.23 Million. Analysts are neutral and suggest that the price will retest the upside of $0.00004000 in the following sessions.
FLOKI On Daily Charts Displays Channel Breakout
On the daily charts, the token gave a channel breakout and escaped the key hurdle of $0.00003200 decisively. Above it, the token has plenty of room to stretch the move, and it may retest the $0.00004000 level soon. Moreover, the trend signifies the follow on buying momentum and bulls have persisted in accumulating the gains. Following the market surge, the token succeeded in holding the gains and attained a remarkable pullback. Per the Fib retracement zone, the token has respected the 38.2% zone and is heading toward the 50% zone.
The Relative Strength Index (RSI) curve remained in the overbought zone and the positive divergence signifies a bullish outlook. Similarly, the Moving Average Convergence Divergence (MACD) indicator showcased a bullish crossover and formed green bars on the histogram, indicating buying momentum.
FLOKI On Weekly Charts Exhibits Buyer Accumulation
On the weekly charts, the token has taken support on the 20-Day EMA and replicated a pullback. Moreover, the token has attained strength and is readying to exceed the rebound to retest the trajectory highs of $0.00005000 in the following sessions. Additionally, the sellers might face trouble, if the token climbs above $0.00004000, which is the make-or-break zone.
Summary
FLOKI price chart shows a falling channel breakout, a pullback was glimpsed which smashed the key hurdle of $0.00003200. Amidst overall neutrality, the token managed in holding the grip. A short covering move may strike the upside of $0.00004000 soon. Technicals (RSI and MACD) are giving bullish signals.
Technical Levels
Support Levels: $0.00003000 and $0.00002800
Resistance Levels:$0.00003700 and $0.00004000
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.