The FLOKI cryptocurrency is one the decline in value, as sellers have been putting considerable pressure on the market in recent trading sessions. The bears seem to have the upper hand, and the price is forming negative candles, which indicates a struggle between buyers and sellers.
At the moment, the FLOKI crypto is priced at $0.00014196, and it has dropped by 2.68% today, which signifies bearishness. Despite the efforts of buyers to gain ground, they have only been able to hold on to a few crucial support levels. The trading volume for today is $161.12 Million, and the FLOKI crypto is expected to exhibit further volatility in the upcoming trading sessions.
On the daily charts, the FLOKI crypto is currently in a downtrend, and it has not been performing well in the past few months. Additionally, the technical indicators still point towards bearishness, with no indication of a bullish reversal or a rebound from the lower levels.
Technical Analysis of FLOKI Crypto Price in 1-D Time Frame
floki by writer12_gsm on TradingView.com
The FLOKI token is currently facing downward pressure from sellers on the 4-hour charts, with buyers unable to surpass the neutral range. This is causing the gains from the top to erode as sellers persistently push back against the bulls below the lower trajectory.
The charts indicate negative divergence and bearishness, with the relative strength index (RSI) curve hovering near the neutral range of 48. The moving average convergence divergence (MACD) is neutral, with both moving averages converged, which suggests a significant move may be seen in the upcoming sessions.
While FLOKI crypto is currently trading above the 50 and 200-day simple moving averages (SMAs), indicating support for the price trend, if selling volume increases, the price may conquer the supporting SMAs by making lower highs and lows. As a result, the price is expected to move downwards, giving a bearish outlook over the daily time frame chart.
With a current RSI value of 37 points, the FLOKI crypto is bearish, as the 14 SMA is below the median line at 41 points.
The MACD line is at -0.00001843 and the signal line is at -0.00001180, both above the zero line. A bearish crossover has been observed in the MACD, which signals more bearishness for the crypto price.
Summary
The FLOKI cryptocurrency is currently experiencing a decline in value, with sellers putting considerable pressure on the market. The bears seem to have the upper hand, and the price is forming negative candles, which indicates a struggle between buyers and sellers. The FLOKI crypto is priced at $0.00014196 and has dropped by 2.68% today, with a trading volume of $161.12 Million. On the daily charts, the FLOKI crypto is currently in a downtrend, and the technical indicators still point towards bearishness, with no indication of a bullish reversal or a rebound from the lower levels.
Technical Levels
Support Levels: $0.00011165
Resistance Levels: $0.00017045
Disclaimer
This article is for informational purposes only and does not provide any 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 own research before making any financial decisions
Adarsh Singh
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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