š $FLOKI drops 28% in 7 days: Breaking down whatās going on - AMBCrypto Analytics
AMBCrypto assessed some key indicators and found that they hinted at the possibility of a further decline in FLOKIās value.
At press time, the meme coin is trading at:
- $0.00022232 on Binance
- $0.00022252 on WhiteBIT
- $0.00022248 on Gate.io
For example, its key momentum indicators rested below their respective center lines. FLOKIās Relative Strength Index (RSI) was 46.55, while its Money Flow Index (MFI) was 46.32.Ā
These indicators identify overbought or oversold conditions in a market by measuring the momentum and changes in an assetās price movements.
At their values at press time, FLOKIās RSI and MFI suggested that selling pressure outweighed buying activity.
The meme coinās negative Chaikin Money Flow (CMF) also confirmed this. This indicator measures how money flows into and out of an asset.Ā
A negative CMF value indicates market weakness, which signals increased liquidity exit. This is a bearish sign, and traders interpret it as a precursor to a further price decline.
As of this writing, FLOKIās CMF was -0.04.
Further, FLOKIās Aroon Down Line (blue) confirmed the strength of its current downtrend. It was at 100% at press time.Ā
This indicator measures an assetās price trend strength and identifies potential reversal points.
When the Down Line is close to 100%, the downtrend is strong, and the most recent low was reached relatively recently.