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- 1 FLOKI price registered a falling wedge breakout this week.
- 2 Buyers are paying their attention and looking to cross the $0.0002000 mark.
The FLOKI crypto price has escaped from the sellers grip and made a fresh breakout candle, breached the trendline mark of $0.0001750.
Additionally, the bull accumulation led to cross the price above the 20 day EMA mark and a bullish crossover was established. Furthermore, the trend is positive and investors have entered into the trade and made fresh long positions this week.
At press time, the FLOKI token (FLOKI) price traded at $0.0001901 with an intraday drop of 3.22%, reflecting a bullish stance. It has a monthly return ratio of -5.13% and 297.89% yearly, replicating a short term bullish trend.
The pair of FLOKI/BTC is at 0.00000000297 BTC, and the market cap is $1.84 Billion. Analysts are bullish and suggest that the FLOKI crypto may deliver outperformance and will skyrocket gains in the next sessions.
FLOKI Price Action Revealing Fresh Buying Momentum
The FLOKI crypto price to volume profile showcased fresh bull accumulation and has breached the trendline mark of $0.0001750. Additionally, a fresh higher high swing was established with a rise in buying volume.
Source: TradingView
The intraday trading volume noted a surge over 35.25% to $258.10 Million and the token is inclining toward the key hurdle of $0.0002000. A break and close above the above mentioned mark may trigger a sharp rally and will retest the upside range of $0.0002500, followed by $0.0003000 soon.
Will FLOKI Skyrocket Above $0.0002200 This May?
The FLOKI crypto price is all set to breach the upside mark of $0.000200. As key hint at a bullish crossover and suggest a rise in the coming sessions.
Source: Santiment
The total weighted sentiment data implies a negative outlook and the value stayed below the midline around -0.591 mark. If the token succeeds to manage gains beyond $0.0001850, slowly & steadily short covering may trigger ahead.
Per the Fib retracement levels, the FLOKI token price has crossed the 38.2% zone and is beyond the mid bollinger band, highlighting a momentum shifting activity.
On an analysis over 26 indicators, only 2 indicators gave a sell call, whereas 10 gave a neutral call, and 14 indicators initiated buy call, delivered the short term and long term bullish signal.
The overall trend is bullish and the price action implying a fresh opportunity to buy at these price levels.
Per the data from IntoTheBlock, 3.64% of the 77k active addresses are looking to secure their gains, which might lead to a bullish trend ahead. Similarly, more than 57.64% in the money position investors are in profit and maintained their long positions, which suggesting a long term strong trend.
Conclusion
FLOKI price has crossed the key moving averages and has flipped the trend, breached the trendline mark too. Besides the trendline breakout, the lagging and leading indicators are highlighting the bullish trend and suggest a strong buy call.
Technical Levels
Support Levels: $0.0001750 and $0.0001600
Resistance Levels: $0.0002000 and $0.0002200
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
