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- 1 FLOKI price is currently trading in the demand zone and might make a rebound
- 2 The current FLOKI price is $0.000032 with a 24-hour trading volume of 25%
The FLOKI price is trading in a sideways range on the daily timeframe. Presently the price is moving near the demand zone if it is successful in breaching the current resistance levels it has the potential to attain 30% of its value within the next few weeks. Presently, it is taking resistance from the 200 EMA.
The current value of the FLOKI token is $0.000032 and it has a market cap of $308.68 Million.
Decline in Bullish Sentiment and a Rise in Social Engagement Level
The Investor’s sentiments regarding the FLOKI price are observing a negative decline within the past few days. The total Bullish Sentiment metrics have depreciated by 27.82% whereas there is a positive increase in the Total social engagement level.
Greed Index of Market Sentiments
The majority of market sentiments have been moving near the neutral zone for the past few weeks. The present value of market sentiment is 52 points, according to the greed and fear index. A stagnancy has been observed in these values for the past few months.
The bears hold prominence in the price action, however, the bulls are persistent and they may regain control within the next few months.
Technical Analysis (1 Day Timeframe )
The FLOKI coin is currently taking resistance from 200 EMA. As of now, the price is taking support from the base of the consolidation range while also making an engulfing bullish candle.
If the price successfully crosses above the 100 EMA, it will give a bullish move of 20 percent whereas its support level is 6 percent below the current price.
The RSI line is currently trading below the 14 SMA under a downtrend while making a lower high and lower low. The current RSI value is 47.16 points taking resistance from the 14 SMA which is trading around 45.11 points.
However, the making of a downward curve, taking resistance from the 14 SMA is suggesting that it might soon start moving toward the overbought level.
Conclusion
According to the analysis, The overall technical indicators are presenting a bullish outlook regarding the FLOKI token in the near future. The price is trading near a challenging barrier level. The oscillators RSI and stochastic RSI are at present moving near the demand zone.
If the price gains investors near the recent support level and succeeds in breaching the 200 EMA it has the potential to make a bullish 30% rally.
Technical levels –
Support – $0.000025
Resistance – $0.000040
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
