- 1 FLOKI’s price is struggling to sustain near the $0.00003083 mark.
- 2 Bulls are losing gains accumulated last week.
- 3 FLOKI crypto forecast demonstrates selling pressure; is heading toward the demand zone of $0.00002821.
FLOKI crypto price is showing weakness and bearishness in the daily time frame as it has been in a downtrend for the past few months and faced selling pressure from the market.
The crypto price has currently jumped above the key moving averages and is trying to reach the upper level to bounce back. The technical indicators, such as the RSI, the SMA, and the MACD, also indicate that the crypto is bearish and has a low momentum so it is difficult to sustain above the key EMAs.
In addition, if the crypto can hold above the important EMAs and the MACD can move above the signal line, it could have a possibility to bounce back and increase in the long run. Therefore, investors should be careful and monitor the daily time frame chart for any indications of a trend reversal before taking any further action.
At the time of publication, FLOKI Crypto was trading slightly at $0.00003110 with an intraday drawdown of 0.61%, indicating bearish sentiment on the charts. In addition, intraday trading volume also decreased by 43.87% Billion. Crypto market capitalization is $297.47 Trillion.
FLOKI Crypto Price Technical Analysis?
Source: Tradingview
Crypto price has gained between 10.87% in a week and dropped 2.72% in a month. FLOKI crypto declined around 5.41% in the last three months while gaining around 26.36% in the last six months. Nevertheless, VET cryptocurrency managed to gain around 9.80% year to date. This confirms the volatility in the crypto throughout the year.
Crypto showed seller strength on the daily technical chart showed profit booking in Crypto. Furthermore, the price is trying to sustain above the key EMAs, indicating further weakness for the cryptocurrency.
The RSI curve is near 54, near the neutral zone, with a negative outlook indicating bearish sentiment in the cryptocurrency. The MACD indicator also continued to form a red band and a bearish crossover appeared, indicating a bearish move in upcoming days.
Summary
FLOKI price analysis highlights the sustainability issues of crypto at a higher level and EMAs over the daily time frame chart. Moreover, crypto is currently facing short-selling pressure as it struggles to sustain its current level. Furthermore, volume is below average and needs to grow buyer’s support. The crypto needs to attract more buyers to surge from the current level and remain in the recovery phase.
Technical Levels
Support Levels: $0.00002831 and $0.00002831
Resistance Levels: $0.00003342 and $0.00003535
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Adarsh Singh
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
Read the full article here
