- The FLOKI price has dropped below the key moving averages, indicating a bearish trend.
- Floki Inu’s price has declined by 25% in the past 5 days and is heading for a new lower low.
In the last week of February, the Floki Inu (FLOKI) price displayed massive bullish momentum. It has departed from the key moving averages. The price witnessed a giant momentum of 800% in just 2 weeks and recorded a new all-time high.
The bullish trend in Floki Inu’s price was interrupted near the $0.000300 territory. Furthermore, the profit booking was seen, which dragged down the price.
During the profit booking, the price dropped to the major support level. However, it bounced back, and a new ATH was recorded.
However, the FLOKI crypto price didn’t smash the last swing high, and strong selling pressure was witnessed. Since March, the price has defended the $0.000100 hurdle but is trading below the 200-day exponential moving average (EMA).
Floki Inu Price Overview
Floki Inu crypto was trading at $0.000123 at press time, increasing by 1.52% in an intraday session. The market capitalization was $1.18 Billion, and the 24-hour trading volume was $164.60 Million.
Technical Analysis of FLOKI Crypto Price Over 1-D Timeframe
Based on the technical chart, the Floki Inu price has been struggling on a crucial level. It would be a selling signal if the digital asset price slips below the major support level. Below this level, most buyers might prefer to book profit, which may lead to bearish momentum.
Alternatively, if the FLOKI coin price advances the 200-day EMA, then buyers may become confident. Suppose the trading volume increases, boosting the bullish momentum, and buyers may eye for the upper resistance level.
Turning to the technical indicators, the MACD has generated a death crossover with the signal line. Also, the histograms have been flipped to red. The FLOKI price has dropped below the key moving averages, showcasing the bearish forecast.
Bullish Divergence in RSI; FLOKI Price Analysis on 4-H Timeframe
The chart structure showed that the FLOKI crypto price has witnessed a bearish trend over the past few weeks. The RSI has generated a bullish divergence, which is a bullish sign, and the price has surpassed the 20-day EMA.
After the bullish divergence, the price has witnessed a short-term bullish momentum. If the buyers remain strong, the price may extend to the 200-day EMA in a few days.
FLOKI Price Analysis and Forecast
Based on the analysis, the Floki Inu price has faced some challenges. It was accompanied by bearish signals suggested by indicators such as MACD and the bearish trend in the past few weeks.
However, the RSI has shown a bullish divergence, indicating a potential for a short-term bullish momentum. It’s essential to monitor the price’s movement with key support and resistance levels. The price is expected to boost momentum once it surpasses the 200-day EMA.
Technical Levels Based on Support and Resistance
The bullish trend in FLOKI crypto may interrupted near the $0.000160 and $0.000200 levels. The price is expected to take support at $0.000100 and $0.0000400 levels.
Disclaimer
This article is for informational purposes only and provides no 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.
