$FLOKI Next move analysis:
Based on the chart provided for FLOKI/USDT on the 1-hour timeframe:
Key Observations:
1. Current Price: 0.00021950, which shows a decrease of 1.80%.
2. EMA Levels:
EMA(7): 0.00022371
EMA(25): 0.00022434
EMA(99): 0.00022035
The price is trading below the shorter EMAs, indicating bearish momentum in the short term.
3. Stochastic RSI: Very low levels (around 2.56), suggesting that the market may be oversold and could see a potential short-term bounce.
4. RSI(6): 34.53, showing relatively weak momentum, but not yet fully oversold.
5. Support and Resistance:
Immediate Support: Around 0.00021604 (recent low).
Resistance: Near 0.00022400 (EMA levels and previous highs).
Short-Term Analysis:
The price is approaching a support zone. If it holds, we could see a minor bounce toward the resistance levels around EMA(7) and EMA(25).
However, a break below 0.00021600 could lead to further downside, with potential targets near 0.00020000.
Suggested Moves:
Bullish Scenario: If the price reclaims EMA(7) with volume, it may test 0.00022400 and higher resistance.
Bearish Scenario: Watch for a breakdown below 0.00021600 for potential shorting opportunities.
