FLOKI Price Rises 21% in 24 Hours: Major Breakout?
Market expansion has sent the FLOKI price up 21% today, with meme coins up 4.82%. After a reversal, FLOLKI is primed for more increases.
FLOKI is up 13.08% in 24 hours after a modest retracement from its early morning spike.
This increase has helped FLOKI grow 22.11% since last Monday, outpacing most other cryptocurrencies.
However, it has failed to recoup from its 11.51% month-long loss.
Indeed, this spike has boosted trading interest in FLOKI. Last day, the coin's trading volume rose 181.99% to $488.19 million.
Does FLOKI Price Retest Key Support Level: Surge Over?
Detailed charts indicate that FLOKI's correction is ending.
Most importantly, FLOKI's relative strength index dropped from 90 to 50 after 8 hours. This change implies an overbought to neutral condition.
A steep decrease is indicative of a correction as FLOKI cools before its next rise.
Most importantly, Floki held above the $0.00017717 (orange) support level at the hour's high.
This may indicate that the correction is ending, allowing for additional upside.
These signs offer a strong precedent for near-term market movement, but trends will show where the price is going.
Most importantly, the 30DMA is steeply ascending, easily above the 200DMA, which has followed suit.
This shows that short-term momentum may change the trend from sideways.
The 30DMA has supported FLOKI throughout its rise. Floki should have additional potential.
