Following a significant increase in major altcoins lately, Floki is gaining serious traction as new money flows into meme coins. It posted 15% gains earlier today but has retraced slightly due to a rejection.
After breaking down from a 15-day consolidation phase to a low of $0.000122 two weeks ago, Floki bounced off quickly and reclaimed the lost $0.00015 zone – it suppressed buying and the volatility dropped.
Floki calmly traded sideways until the price broke higher yesterday. It advanced surge today but faced rejection after almost tapping $0.0002. The price fell and retraced to where it’s floating at around $0.000185.
Despite that, it is still looking strong on the price chart. Considering the previous daily candle formation, which ended with a bullish engulfing, we can anticipate a massive price movement in the next few days.
Negative sentiments are slowly fading due to the ongoing bullish bias across the crypto space. A continuous price increase would bring an absolute end to the bearish correction.
As can be seen on the daily graph, Floki has technically established a base support above the $0.00012 level. This support could become a short-term buying level if the price advances higher in the coming days. A dip below this base support could trigger another 50% price crash.
Floki’s Key Levels to Watch
Source: Tradingview
Floki is currently looking indecisive. If the price increases above the daily $0.0001978 high, it is likely to face small resistance at $0.000208 before surging heavily to $0.000235 and $0.000265.
Currently, Floki is sitting on a daily support of $0.0000177. Below this support lies the $0.000156 level. If the price drops below this level, the key $0.00012 support would be the next selling point to watch.
Key Resistance Levels: $0.000208, $0.000235, $0.000265
Key Support Levels: $0.000177, $0.000156, $0.00012.
- Spot Price: $0.0000185
- 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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