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Floki's (FLOKI) price over the past 24 hours has been bullish, with bulls pushing prices from an open of $0.0001735 to an intraday high of $0.0001855, encountering a solid resistance level. In the wake of the failure to clear the resistance line, the FLOKI price experienced a drop of 1.22% as of press time, exchanging hands at $0.0001725.
In the correction, FLOKI market cap was down by 1.15% to $1,650,144,957, whereas a surge in the 24-hour trading volume by 31% to $297,397,203 happened as the dip turned out to be an attractive entry position for the traders.
Of significant importance is the recent trading session of FLOKI, where massive price movements have been depicted. The price trend, after consolidation, was seen to be trying to show a potential breakout above the 50-day EMA. An uptrend has found support in this accumulation phase above the dynamic backing close to the 200-day EMA.
Even with the correction, FLOKI stays strong above $0.00015, depicting that interest from investors still holds strong. Currently, the price trades at $0.0001725, just following a rapid spike test of resistance levels placed at $0.00019.
The lack of ability to keep above the level resulted in a slight pullback—a norm for markets as volatile as cryptocurrencies. This fluctuation shows that some bullish sentiments exist when the level of resistance comes as a challenge for FLOKI.
The technical indicators present a mixed outlook for FLOKI. It has shown a sign of a bullish crossover for the moving average convergence-divergence (MACD). The MACD line appears to be below the zero line, where the signal line seems to be merging below it. This crossover, together with the bullish histograms coming back, shows the possibility of upward momentum.
Nevertheless, the death cross on the daily chart, with the declining 50-day EMA, still indicates caution. It usually is a signal for a likely bearish trend if the price fails to hold above the critical support levels. Many traders are watching those indicators now to see if current price moves are sustainable.
The most recent market capitalization for FLOKI is near $1.65 billion—indicative of a slight retreat after the correction. Following this dip, the overall market sentiment is cautious, and most traders look forward to further bullish actions if the price can break current resistance levels.
The future outlook for FLOKI remains uncertain but cautiously optimistic. If the price breaks and sustains above the $0.00018 level, there might be a push even toward the $0.00026 and higher. This could also be confirmed with the formation of a double bottom pattern. Conversely, further extension below $0.00017 should target the last trendline around $0.00016.
