*Floki Memecoin Retests Its Important Resistance Zone!*
With a weekly surge of ~50%, the Floki coin price has achieved a 6-month high. Moreover, with a market cap of $2.512 billion, the memecoin has surpassed 11 crypto projects in terms of market cap rank. The Floki project is now the 6th most valued memecoin in the market.
The Simple Moving Average (SMA) constantly supports the Floki price chart in the 1D time frame, indicating increased bullish action for the memecoin in the crypto market.
The MACD indicator has displayed a constant green histogram with its averages recording a steady rise in the price chart. This suggests that this meme coin may continue experiencing a positive price action this week.
*Will Floki Skyrocket?*
Maintaining its bullish price action could push the price of this memecoin toward its upper resistance level of $0.000320. Further, if the bulls continue dominating the market, this could result in its achieving a new all-time high in the coming time.
However, if a trend reversal occurs, the Floki coin price could retest its support level of $0.0002145. Moreover, if the bulls fail to regain momentum at that point, it could plunge toward its lower support trendline of $0.000155 this year.