📊Floki memeCoin chart Analysis
Floki Coin experienced an 8% rise following the increase in Bitcoin’s price, moving from $0.0001546 before retracing back to the $0.0001396 support level. The volatility in Bitcoin continues to impact the altcoin market, exerting downward pressure on Floki Coin. If the sell-off persists, the price may drop further, potentially testing the next support at $0.0001326.
Key Levels:
• Support: The key support level currently stands at $0.0001396, with a potential drop to $0.0001326 if selling pressure intensifies.
• Resistance: If the price manages to hold above $0.0001464, there could be a recovery towards the recent high at $0.0001546 and a potential test of the resistance level at $0.0001586.
Market Sentiment:
Investors have been cautious due to increased risk aversion over the last two quarters, leading to rapid sell-offs whenever key levels are breached. This cautious approach comes in response to the extended period of market stagnation and uncertainty, which has heightened concerns about further declines.
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