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Amid a sudden surge in meme coins, FLOKI prepares a reversal rally to surpass $0.00015. Will a bullish harami pattern result in a massive surge?
One of the top meme coins, FLOKI, is trading at a 64.47% discount from its 52-week high of $0.0003487. During the pullback, multiple buy-the-dip opportunities failed to create a new high.
However, the stronghold at $0.0001094 keeps the FLOKI price buoyant and keeps the chances of a bullish reversal alive. With another pushback to the sellers, FLOKI pumps on Monday before hitting the $0.00010 mark to end a four-day crash. Will this new recovery be the final dip in the months-long correction spree?
FLOKI Stronghold at $0.00010
FLOKI takes a bearish reversal from the merged 200-day and 50-day EMA near the $0.0001523 level. The downfall accounts for four consecutive bearish candles, resulting in a 25% decline in the market cap of the meme coin.
The bear cycle takes an early reversal from the $0.0001149 mark before testing the $0.00010 support level. Further, with a 4.28% surge on Monday, the FLOKI price trend concludes the bear run and forms a Harami candle pattern.
With Monday’s bullish candle enclosed within the bearish candle of Sunday, a harami pattern holds the upcoming FLOKI price trend. Meanwhile, the recent spike in the bearish influence results in an increased gap between the declining 50-day and 200-day EMA.
Further, the bearish trend in the MACD and signal line continues to drop into the negative territory with declining histograms.
Will FLOKI Price Surpass $0.00015?
Despite the technical indicators giving a sell signal, the price action at the $0.00010 level predicts a potential reversal. With a decisive trend kept in a Harami pattern, the breakout of it will determine the FLOKI prices.
A bullish breakout can challenge the $0.00015 ceiling for a potential breakout run to the $0.00020 mark. On the flip side, a bearish outcome will put stress over the $0.00010 mark, with the following support levels at $0.000078 and $.000055599.