đ„đđFloki Price Prediction: Will the Bullish Trend Extend?
Summary:
#Floki could break to a new target if it continues to respect the support levels and goes up in the near future.
Floki is a meme coin named after Elon Muskâs Shiba Inu and was established in 2021. The meme coin is involved in various market areas, from NFTs to DeFiâs and features a Viking-themed game named Valhalla, where players compete for cryptocurrency rewards.
$FLOKI has performed very well in 2024, with its price increasing over 290% since the start of the year. Floki secured partnerships with top English soccer teams, leading to even more tremendous popularity. Flokiâs Valhalla focuses on epic battles to keep players engaged, and players earn cryptos as rewards for hitting milestones in the game.
The Floki Price Today
The FLOKI/USD trading pair chart on the 4-hour timeframe shows an upward signal. The Floki price trades inside the ascending channel, with the lower barrier acting as support and the upper barrier as a possible resistance, where traders may consider taking profits.
Floki could break to a new target if it continues to respect the support levels and goes up in the near future. Traders should watch the trend very carefully and look for signs of a reversal if the RSI goes to overbought territory or if the MACD starts to go down. A break below the support could signal a potential downtrend.
While Flokiâs short-term outlook is bullish, some indicators warn of a potential consolidation soon. Traders should adjust their trading strategies accordingly, especially if the momentum indicators signal a reversal or the price approaches critical resistance levels.
{spot}(FLOKIUSDT)
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Treat your trades like guerrilla warfareâmove in quickly and exit just as fast. Avoid prolonged holds and keep your trading cycle short to capitalize on immediate opportunities..
Follow the Trend:
Donât be swayed by high or low prices; instead, adhere to the current market trend. Avoid buying out of fear or selling prematurely, and let the trend guide your decisions.
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Start with a small position, around 20% to 30% of your capital. If the market conditions are favorable, gradually increase your position. Think of it like a pyramid, where your base is larger and your top is narrower.
Use Moving Averages:
The 10-day moving average is crucial for trading decisions. If the price retraces to this average but does not fall below it, itâs an opportune moment to make your move.
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Market Update Regarding ENA :
The price action on the 12-hour chart is forming a descending channel, with the price consistently moving within its boundaries.
A support zone is identified around 0.280, where the price recently rebounded after touching this level.
Thereâs a developing trend indicating potential stabilization above the 100-period moving average. Additionally, the RSI shows a downward trend, which could suggest upward momentum, possibly leading to a breakout.
Trading Strategy:
- Entry Price: 0.290
- First Target: 0.330
- Second Target: 0.355
- Third Target: 0.386
Keep an eye on these levels for potential opportunities.
Source: CryptoAnalystSignal
Disclaimer: these information is not for future trading.
{spot}(ENAUSDT)
#ENA