FLOKI Crypto Price Analysis and Forecast: Will the Bulls Regain Control?

In the last week of February, the Floki Inu (FLOKI) price displayed massive bullish momentum. It has departed from the key moving averages. The price witnessed a giant momentum of 800% in just 2 weeks and recorded a new all-time high.

Floki Inu (FLOKI) price displayed massive bullish momentum in the last week of February. It has departed from the key moving averages. The price has witnessed a giant 800% move in just 2 weeks and has recorded a new all-time high.

However, the bullish trend in Floki Inu’s price was interrupted near the $0.000300 territory. Afterward, the profit booking was seen, which dragged down the price.

During the profit booking, the price dropped to the major support level. However, it bounced back, and a new ATH was recorded. But the FLOKI crypto price failed to smash the last swing high, and strong selling pressure was witnessed. Since March, the price has defended the $0.000100 hurdle but is trading below the 200-day exponential moving average (EMA).

Floki Inu Price Overview

Floki Inu crypto is currently trading at $0.000123, showing an increase of 1.52% in an intraday session. The market capitalization is $1.18 Billion, and the 24-hour trading volume is $164.60 Million.

Technical Analysis of FLOKI Crypto Price Over 1-D Timeframe

Observing the technical chart, the Floki Inu price has been facing some challenges. If the digital asset price slips below the major support level, it would be a selling signal. Below this level, most buyers might prefer to book profit, which could lead to bearish momentum.

On the other hand, buyers may gain confidence if the FLOKI coin price advances the 200-day EMA. Suppose the trading volume boosts the bullish momentum, and buyers may eye the upper resistance level.

Coming to the technical indicators, the MACD has generated a death crossover with the signal line. Moreover, the histograms have been flipped to red. The FLOKI price has dropped below the key moving averages, which showcases the bearish trend in the past few weeks.

Bullish Divergence in RSI; FLOKI Price Analysis on 4-H Timeframe

The chart structure shows that the FLOKI crypto price has been in a bearish trend in the past few weeks. The RSI has generated a bullish divergence, which is a bullish signal, and the price has crossed above the 20-day EMA.

After the bullish divergence, the price has witnessed a short-term bullish momentum. If the buyers remain strong, the price may reach the 200-day EMA within a few days.

FLOKI Price Analysis and Forecast

According to the analysis, the Floki Inu price has been facing some challenges. It was accompanied by bearish signals suggested by indicators like MACD and the bearish trend in the past few weeks.

However, the RSI has shown a bullish divergence, indicating a potential for a short-term bullish momentum. It’s crucial to keep an eye on the price's movement with key support and resistance levels. The price is expected to boost momentum once it surpasses the 200-day EMA.

Technical Levels Based on Support and Resistance

The bullish trend in FLOKI crypto may be interrupted near the $0.000160 and $0.000200 levels. The price is expected to take support at $0.000100 and $0.0000400 levels.

This article is intended for informational purposes only and does not provide financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please conduct your own independent research before making any financial decisions.

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