🚀🚀🚀Floki Price Prediction: Nearly 45% gain in sight as FLOKI prepares for flight
The #Floki (#FLOKI ) price was in a downtrend with a price movement characterized by lower highs and lower lows. It came as the broader Sunday collapsed. Meme coins have withstood the worst of the lack of momentum seen in the Bitcoin (BTC) price, given the sector's strong correlation with BTC in bullish markets.
Floki price has risen by about 45%%
The Floki price downtrend could hit bottom after the intraday low of $0.000160. The dump, which provided bulls with a late chance to buy Floki at a discount, made the meme coin attractive for buyers after a deviation below the midline of the market December defined as $0.000203 by the 50% Fibonacci placeholder.
Pay attention to the formation of a hammer candlestick, which suggests a potential capitulation by sellers to create a bottom. This technical formation is usually followed by an increase in price to indicate a potential reversal in the price direction.
The Relative Strength Index (RSI) remains above the average level with a similar appearance seen on the Awesome Oscillator (AO), which is still in the positive zone. Increasing buying pressure may cause the Floki price to turn the $0.000203 level into support, and there may be a potential to cross the most important Fibonacci correction level at $0.000229, which is 61.8%.
In the case of a high bullish situation, the FLOKI price may rise to the Fibonacci correction level of 78.6% at the $0.000267 level, where firm resistance is expected. Such a move would constitute a climb of 43% above current levels.
On the other hand, the improved seller momentum may see the Floki price extend the decline below the $0.000150 threshold. Such a move will invalidate the bullish thesis, while at the same time triggering more sell orders, leading to a lower decline.
