FLOKI Stabilizes Above Key Support Levels: Bullish Momentum Signals Potential Rebound

The price analysis of Floki reveals that the market sentiment is bullish as the price of FLOKI rose to $0.000181, with a 24-hour trading volume of $229,987,135. The price of FLOKI surged by 5% in the last 24 hours. FLOKI  investors continue to invest in it because of the decline that has occurred recently.

FLOKI has been on the rise after experiencing a drop of more than 25% in the last week. After reaching its lowest value of $0.000160, the coin is reversing, which may indicate a good recovery. The trading volume is currently at $288.44 million, which is still a relatively conservative figure for an investor. But the latest santiment data reveals that the number of active addresses has risen by 300% in the last seven days, which is a sign of increasing network usage and adoption, which is a good sign for future performance.

Floki Inu Surges 5.85% After Decline: What is the Next Step?

The current price increase of FLOKI is backed by technical analysis that reveals an upward trend. The value of the coin reduced to $0.000160, is now rebounding, with new support levels at $0.000175 and $0. 000166. A critical support zone is established at $0.000155. If FLOKI breaks above $0.000235, it may be able to hit the previous resistance level of $0.000268, which is 48.9% higher.

The price analysis of Floki reveals that FLOKI is in a position to bounce back in the middle of the fluctuating market. The 4-hour price chart shows that FLOKI has stabilized above $0.000160 and is now testing resistance levels. This shift indicates that the bearish pressure is fading and that a bullish turn might be around the corner. If FLOKI continues to move in the current trend, it may reach the next resistance levels at $0.000190 and $0.000235.

Nonetheless, crypto analyst iMoneyTeam expects the Floki (FLOKI) token to plummet soon and wipe out all the 2024 gains. Although it has recently risen slightly, FLOKI has lost nearly 20% of its value in the last month. From the technical perspective, it appears that the setup is for further pullback rather than continuation of the rally. iMoneyTeam expects an ‘internal pullback’ which is in concordance with the price movements noted.