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June 16, 2024
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FLOKI Price Analysis: With A Cool-Off In Breakdown Rally, Will FLOKI Price Revamp By 30%?

The post FLOKI Price Analysis: With A Cool-Off In Breakdown Rally, Will FLOKI Price Revamp By 30%? appeared first on Coinpedia Fintech News

Following the remarkable gains in early 2023, the FLOKI price maintains a downside trajectory and continues to break demand levels. Continuously losing its Yeat-to-date gain, the Floki Inu is at another demand belt with a reversal potential. 

Trading at a 95% discount from its all-time high of $0.0003437, FLOKI price action displays a sign of potential reversal. 

Following the descending triangle breakdown, the FLOKI price transcends to even lower levels with a 23% drop. Finding a solid footing at $0.0000165, the breakdown rally settles into a sideways trend with lower high formations. 

The demand belt forming at $0.0000165 has been notable a bounce-back spot for Floki last month. Moreover, the lower price rejection in FLOKI teases a reversal rally to challenge the broken level of $0.000020.

The daily RSI is still going up even though the FLOKI price is staying the same. Leading to a bullish divergence, it signals the meme coin price might go up soon. The MACD indicator is also showing a bullish crossover, which is another sign that the price might go up.  

Considering the FLOKI price action starts a new bull cycle, the reversal rally can pump the meme coin by 30% to $0.000020.  

On the flip side, a breakdown below $0.00001685 will plunge the FLOKI coin price to test the $0.000012 mark. 

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