Floki Inu (FLOKI) Price Prediction: Will FLOKIUSDT Break the Bearish Trend?

As most Doge-themed coins continued to gain traction, Floki's price further increased by 15% today to reach its highest trading level in four weeks.

Doge-themed coin Floki (FLOKI) has seen a continuous rise in price, adding a further 15% today to reach its highest trading level in four weeks. It now trades at a mid-point between $0.00011 and $0.000156.

Despite the rise, FLOKI’s price is still down 80% from its all-time high in June and remains in a bearish trend on the longer time frame. However, the latest gains have seen the bulls attempt to minimize the losses.

FLOKI began the day with a 10% gain, continuing a recent rally that has now seen the token add 20% to its value in just one week. The gains began after a brief consolidation period at the beginning of the month, and FLOKI price has been rising steadily ever-increasing volume since then.

If the bears intercept the latest moves, buying may halt. But recent price actions suggest a steady rise in the buying volume level, which could see the bulls sustain pressure for a while due to the latest increase across the crypto space.

The bulls are now attempting to propel the price of Floki past the crucial barrier at $0.000156. This level, which served as support during the last downturn, is now acting as resistance and might impede the bulls' advance.

However, breaking through this barrier might pave the way for a further advance to the next resistance levels at $0.000177 and $0.00021.

On the downside, crucial support levels for FLOKI are presently located at $0.00011 and $0.000096. If the price falls below these levels, it might encounter further support at $0.0000625.

Floki (FLOKI) Technical Analysis Summary

Chart Analysis

Key Resistance Levels: $0.000156, $0.000177, $0.00021

Key Support Levels: $0.00011, $0.000096, $0.0000625

Relative Strength Index (RSI): The RSI for FLOKI is currently at 48.7. This indicates that the token is in a neutral zone, with no clear indication of overbought or oversold conditions.

Moving Averages (MA): The 50-day MA for FLOKI is currently at $0.00012, indicating a bearish trend over the mid-term.

Disclaimer: This analysis is intended to be informative and educational, and does not constitute trading or investment advice. Always conduct your own thorough research and consult a qualified professional before making any investment decisions.

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