Market Analysis

FLOKI PRICE ANALYSIS & PREDICTION (February 17) – Floki Nears Key Resistance Following An Impressive Recovery In Two Weeks, What’s Next?

Amid the latest surge in volatility, Floki increased by 15% in the past week and now looks bullish on the daily chart. It currently trades near a monthly resistance level as it gathers momentum for a massive move. 

After correcting by almost 50% in two months, Floki found support at $0.000027 in the first week of this month and ended bearish actions. It later initiated a buy and increased steadily until it reached a high of $0.000034 yesterday. A rejection occurred and the price dropped briefly.

It reiterates bullish actions today and now charges towards a monthly resistance of $0.000035. A surge above this resistance should activate more rally to the upside.

If the resistance poses a threat to buying pressure, we may see a short pullback to a minor $0.000030 support level that flipped as resistance during last week’s surge, before picking up. A drop below the monthly low could lead to a continuation pattern of the recent bearish correction.

Looking at the current market structure, which suggests a potential bullish reversal, Floki is expected to tap more gains in the next few days. 

An increase above last December’s high would confirm a continuation pattern of its mid-term bullish. Notwithstanding, the bulls are gaining control on the daily chart. We can expect bigger moves once buying volume increases.

Floki Key Levels to Watch

Source: Tradingview

A weekly close above the immediate $0.0000354 resistance level could propel buying to $0.000040 in the coming week. The $0.0000475 level is the key resistance level to watch for a breakup.

There’s a close support level at $0.000030 in case of a pullback. A dip below it could bring the price back to the monthly support of $0.000027. Below this support lies $0.000025 and $0.000021.

Key Resistance Levels: $0.0000354, $0.000040, $0.0000475

Key Support Levels: $0.000030, $0.000027, $0.000025

  • Spot Price: $0.0000339
  • 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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Image Source: zieproject/123RF // Image Effects by Colorcinch

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