Floki (FLOKI) Market Analysis Report

Floki (FLOKI) was the 51st largest crypto at press time in terms of market cap in the global crypto market.

Floki (FLOKI) price had an interesting movement on the daily chart in Q1. Its price first peaked at $0.000301, then dipped and found demand at $0.000111 by mid-April 2024.

FLOKI showed good bounces from the demand zone, where it shot up again and created a new all-time high (ATH) at $0.000348 by June 5th, 2024. However, the sell-offs started again after the second week, which led the FLOKI price to dip back to the previous demand zone by the first week of August.

Looking deeper into its daily chart, the price on August 5th formed a liquidity grab candle and started rising, showing a more than 50% jump in its price.

In the witnessed surge on the daily chart, this week contributed nearly 20% of gains and pierced the 20-day EMA band. But the momentum showed struggling signs near the resistance level at $0.000158, which coincided with further hurdles at the dynamic EMA bands of 50-day and 200-day EMA.

The MACD showed a bullish crossover with a histogram growing at 0.000004672. The RSI flashed at 57.55, indicating bullishness.

Therefore, if the price continues surging, the next resistance levels are at $0.0002201 and $0.0003012. But failing to do so would lead to a price decline in FLOKI. In that case, the bears would look at the nearest supports at $0.0001138 and $0.0000919, respectively.

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