Floki has been gaining traction since yesterday due to a sudden surge in volatility. While the trend is still in a downward range on the short-term outlook, the bulls are trying to step back with a strong commitment.
Last weekend marked a temporal halt in Floki’s bearish pattern after experiencing a steady bloodbath throughout the week. Due to a sharp rejection, it pinned support above $0.00011 and bounced slowly.
However, trading volatility dropped this week and the price remained indecisive until yesterday when the third best-performing meme coins by market cap witnessed a notable surge as it went through its highest volatile session since March 6.
The price looks very strong today as it approaches a crucial resistance trendline. A rejection there could facilitate another sell action in the market. Breaking it should activate a new bullish phase for this asset.
From a technical standpoint, the meme coin is still maintaining a lower low and lower high pattern on the daily chart. But fundamentally, the market sentiments appeared to be changing due to the recent halving event.
This event came with a lot of positive sentiment so far as expected and as a result of that, Floki and other meme coins are now bouncing back strong, looking greenish on the day. No signs of selling at the moment.
Floki’s Key Levels to Watch
![](https://nulltx.com/wp-content/uploads/2024/04/m3XoP6uK-1024x581.png)
The price is almost retesting a parallel resistance at $0.000183. Surging through the resistance trendline could send the price to $0.000222 and $0.000265. the higher level to watch for a breakup lies at the $0.000314 level.
In case of a drop, there’s a close support level at $0.000145. Below it lies last week’s $0.00011 support. A crackdown from there should activate another lower low movement to $0.000068
Key Resistance Levels: $0.000183, $0.000222, $0.000265
Key Support Levels: $0.000145, $0.00011, $0.000068
- Spot Price: $0.000174
- 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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