Floki (FLOKI):

As the price of Bitcoin struggles around the $54,000 level, memecoins have taken a major hit with many tokens experiencing a double-digit drop. Following this, the FLOKI price has dropped 8.29% over the past 30 days. This has pulled back its YTD gains to +243.13% from +276.13% concerning the yearly high.

The technical indicators, RSI and SMA have both recorded rising bearish sentiment. This suggests that the altcoin may continue losing value during the upcoming weeks.

If the bearish sentiment intensifies, the Floki memecoin will break its support level of $0.000101 and drop toward its lower support level. Positively, a trend reversal could push the price toward its resistance level of $0.000155 this month.$FLOKI