FLOKI/USDT Consolidates in Range, Testing Resistance
$FLOKI

FLOKI/USDT is currently trading at 0.00012990, down by -0.38%, after testing the upper boundary of a well-established consolidation range. The price is approaching resistance near the 200-period moving average at 0.00012766, which may act as a strong barrier to further gains. Additionally, the price is hovering around the VWAP at 0.00012993, suggesting neutral momentum for the moment.

The RSI is at 63.50, indicating moderately bullish momentum but not yet in overbought territory. This suggests that the price could still attempt to break through resistance levels if buying pressure continues.

The MACD shows a bullish crossover, with the MACD line at 0.0000126 above the signal line at 0.0000067, and the histogram is positive, confirming some degree of bullish momentum. This indicates that the price could continue to test resistance levels in the short term.

Key resistance levels to watch are around 0.00013000 and 0.00013500. A successful break above these levels could push the price toward 0.00014000 or higher, depending on the strength of the breakout.

On the downside, immediate support lies at 0.00012500, with stronger support around 0.00012000. A failure to hold above these levels could result in a return to the lower end of the consolidation zone, with potential for further downside toward 0.00011500.

Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research before making trading decisions.

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