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FLOKI price has experienced a downtrend but is showing signs of stabilization and gains are the market turns green. The memecoin is trading at a price of $0.0001444. Keep on reading to find out how this meme crypto might perform in the future.
FLOKI Price Action and Support Levels
Since its earlier October peak, the price of FLOKI price has been dropping, but now it appears to be consolidating over 0.00013000. It suggests a period of stability, although the downtrend remains intact for now.
Key support is currently observed at the 0.00013000 level, while resistance is found between 0.00014500 and 0.00015000.
A break below 0.00013000 would signal further declines, analysts suggest. Additionally, a breakout above this support could propel the price higher, which could bring the price to the resistance levels.
In this consolidation phase, traders are waiting for a clearer direction in the market before making further moves.
RSI and MACD Indicators Suggest a Mixed Outlook
The Relative Strength Index (RSI) for FLOKI stood at 44.27, which is slightly below 50. It indicated a bearish reading.
If the RSI approaches 50, it may be a change in momentum which would indicate a potential reversal in price.
The ongoing bearish momentum is also evident in the MACD indicator as well. The MACD line stood at -0.00000075, and the signal line at 0.00000141. Still, with the MACD line below the signal line, it showed continuing bearish pressure.
Analysts See Potential for Gains
Market analysts suggest varying results when it comes to the short term of FLOKI. One analyst shared a brief analysis of FLOKI on X. According to his analysis, the FLOKI price is approaching a support level of 0.00012159 and a resistance level of 0.00014835.
“A break above resistance could target 0.00014835, rejection may drop to 0.00012159,” the analyst noted.
Crypto Zillion, another market observer, also highlighted that FLOKI trading volume, unlike many memecoin, crossed the $140 million market.
“This liquidity suggests sustained interest, making it easier for the price to respond quickly to bullish sentiment,” Crypto Zillion added. The analyst believes that such high trading volume could create an upward movement if the buying pressure increases.