Meme coins are gaining traction again after taking a short break in buying. Floki saw the most gain today, leading the top-gainer chart with a 210% surge in the past week. Failure to sustain momentum may result in a reversal.
Last week’s surge brought several mem coins out of the wood after witnessing a significant break out of a long bearish zone. Floki rallied hard and registered an almost 400% gain in a month.
Closing that week on a strong bullish note, Floki pushed to exactly $0.000174 this Monday and marked that price level as resistance. It quickly lost steam and slipped near the $0.000091 level. The price bounced sharply and started to show signs of strength again.
Trading volume increased significantly today and the price broke through the recent high to a new multi-month high of $0.000189. We can expect a bigger rally if the meme coin repeats last week’s bullish pattern.
If such a scenario comes into play again, we may see a massive rally to the top. Floki may even break out of its all-time high (0.00035) to a new high in the process. It must conquer some key resistance levels before retaking its ATH.
Technically, the bears are currently off the market. A drop below the $0.00018 level could facilitate small pullbacks before bouncing back. As it stands now, the bulls are strongly in control of the market.
Floki’s Key Levels to Watch
While many obstacles lie ahead for the bulls on the way up, the closest resistance level for a test right now is $0.00013. Rising above this level, the subsequent resistance to keep in mind is $0.00023 and $0.00025.
If the price rolls back, the support levels to consider for a dip would be $0.00016 and $0.00014. Another support level to watch is $0.00012.
Key Resistance Levels: $0.00020, $0.00023, $0.00025
Key Support Levels: $0.00016, $0.00014, $0.00012
- Spot Price: $0.0001886
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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