FLOKI — More Downside Potential Or Holding Strong?
Floki has been performing relatively well during the latest sell-off. While flashing a couple of bearish signs (bearish Tenkan / Kijun cross, break of the upper cloud support), the token fought hard to hold support at 0.000175—so far, successful.
This level has already served as support a couple of times (for example, just last week). Moreover, it also represents the bottom of the Ichimoku cloud—usually a solid support, too.
Therefore, there's still a chance Floki will hold this line if the market doesn't dip further. However, in an ongoing weak market, Floki is likely to go lower. The next logical support level sits slightly above 0.00016—although it is a weak one. Ultimately, the level at 0.000135 should definitely hold.
Important: This is an analysis and prediction for short-term price movements. It does not change Floki's overall bullish outlook!
