Floki Inu Eyes Break Out At $0.00000800, But The Price Must Do This First

  • FLOKI prices continue to fall as they are in a downtrend channel. A major breakout is imminent. 
  • FLOKI trades lower than key resistance, as the price ranges of FLOKI are below 8 and 20-day EMA.
  • FLOKI is unable to overcome key resistance and turn support into price. 

Floki Inu(FLOKI) is one of crypto’s most beloved memecoins. It may upset Shiba, who won many hearts after a short surge, but could be poised to make another move. All patterns and indicators indicate that the price for Floki Inu is due to rise to $0.000015, or higher if the bulls want to drive this price up despite current market decline. Floki Inu’s (FLOKI), which has seen a decline in prices, is now being reacted negatively by the market. Other altcoins as well as crypto markets are looking to rebound from important support areas. (Data from Gate.io

Floki Inu Price Analysis (FLOKI), Weekly Chart

Although the price failed to rise above $0.000015 during recent weeks, it was still rejected. It is currently range bound and will continue to trend higher towards $0.00002 as the market prepares to allow FLOKI to trend higher. FLOKI’s price found weekly support at $0.0000060 after falling by more than 70% in the previous few months due to the current market not allowing FLOKI to trend.

It is certain that FLOKI’s price will rise once the market has recovered from the current bearish situation. FLOKI has a range that is very narrow or not at all in an effort to escape this pattern.

FLOKI’s price recently rallied to a region of $0.000015 after retesting a weekly low of $0.00000600 but was rejected in an attempt to break higher for the price to trend. FLOKI trades in a range since a while and may be on the cusp of a major rally.

Weekly resistance for the price of FLOKI – $0.000015.

Weekly support for the price of FLOKI – $0.00000600.

Floki Price Analysis on the Daily (1D), Chart

Source: FLOKIUSDT On Tradingview.com| Source: FLOKIUSDT On Tradingview.com

FLOKI’s price continues to fall on a daily basis. The price is aiming to rise to $0.00002, after breaking out of a channel of downtrend that it formed. 

FLOKI currently trades at $0.0000077. This is just below the Exponential Moving Averages (8-day) and (20-day EMA) for FLOKI. The FLOKI price of $0.00000773 is the same as the FLOKI price at the 8-day and 20 day EMA.

FLOKI’s price must reclaim the $0.000008 region with high volume in order for the price of FLOKI to rise to the $0.00002 region. Based on the market structure and price action as well as indicators FLOKI could soon move out of its daily downtrend channel with an eventual rally up to $0.00002.

Daily resistance for the FLOKI price – $0.00002.

Daily support for the FLOKI price – $0.000007.

Featured image from Zipmex. Charts by Tradingview

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