FLOKI confirms the 'double top' pattern, opportunity or risk?
FLOKI recently confirmed a "double top" pattern after the price fell below $0.000207. Although there has been a recent recovery, the downtrend is still present. Two main scenarios are possible: the price could continue to rise if it breaks above the $0.000207 resistance, or fall deeper to $0.000124 if it fails to overcome it. A key support lies at the 200-day SMA at $0.000166; Breaking this threshold could lead to negative sentiment in the market.
Many investors are viewing the price range $0.000166 - $0.000172 as a buying opportunity. However, the Open Interest Index (OI) decreased by 10% in the past 24 hours to $18 million USD, and low liquidation ($255,000) shows that the market does not really believe in FLOKI's price increase. In short, FLOKI is at an important crossroads, posing both opportunities and risks for investors. The lack of market confidence is a factor that needs to be carefully considered.
