FLOKI PRICE IS POISED FOR A RALLY AFTER BREAKING ABOVE THE DESCENDING TRADELINE
FLOKI PRICE broke above the descending tradeline and railed 10% at the time of writing on it continues its ongoing rally and trades 4.4% at $0.00015. additionally , the suggestion of non-chain data supports the bullish trend, as evidenced by active, dormant wallets.
FLOKI PRICE broke above the descending ( drawn by connecting multiple high level from June 7) on August 22 and rallied 10% the next two days. on Wednesday , it finds support at the 50-day exponential moving average (EMA) of around $0.00014 and trades up by 4.4% at $0.00015.
if the 50-day EMA at $0.00014 and the daily support level at $0.00013 hold as support ,FLOKI could rally 24% from its current trading level $0.00015 to retest its July 27 high of $0.00018.
on the daily chart ,this bounce is supported by indicators like the relative strength index (RSI) and awesome oscillator (AO) , which trade comfortably above their respective neutral levels of 50 and zero.these momentum indicators strongly indicate bullish dominance .
based on into the blocks in /out of the money around price (IOMAP), nearly 826 addresses accumulated 9.82 billion FLOKI tokens at an average price of $0.000143. these addresses bought the dog-based meme token between $0.000141 and $0.000143, which makes it a key support zone.
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