$FLOKI , which attracted attention with its rise in a short period of time, has blinked at a new bull run.
The #FLOKI price has increased by 21.79 percent in the last 24 years and recorded a weekly increase of 62.39 percent. This rise of the popular memecoin gave a bullish signal with important indicators. The Relative Strength Index (RSI) exceeded 70. The memecoin frenzy's increasing strength and Bitcoin's surpassing $ 90,000 played a critical role in this peak.
You can continue the rally for FLOKI
The recent rise in the FLOKI price, the RSI value increased from 60 to 71.42 the day before. This metric indicates strong buying momentum. An RSI above 70 usually indicates that the parity is in the overbought region and indicates a potential improvement.
However, this does not always mean a decline. RSI is a momentum indicator that measures whether an asset is overbought or oversold. When the values are above 70, it is overbought, and when they are below 30, it is oversold.
Although FLOKI’s RSI value is currently in the overbought region, it has improved after exceeding 80 in the past, indicating that the rally is still possible.
The Ichimoku Cloud could be a bullish sign
FLOKI’s Ichimoku Cloud chart (a popular and flexible indicator that shows support and resistance, momentum and trend direction) is showing an uptrend. The price is moving well above the cloud, indicating a strong uptrend.
Leading A (green line) is above Leading B (red line), indicating bullish views and the overall configuration of the cloud is positive. Furthermore, the price is well above Tenkan-sen (blue line) and Kijun-sen (orange line), indicating an upward movement.
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