FLOKI tumbles down – what's next?
(note: the post contains data by CoinPedia)
FLOKI price appeared to have followed the PEPE price rally very closely, as the token also marked new highs during the recent upswing. Since then, the levels have been draining and have entered back within the range. This indicates the consolidation may continue for some more time before the final breakout.
After the latest pullback, the FLOKI price appears to be following a parabolic curve and reaching the neckline of the consolidation. The RSI is also ranging along the lower trend line and is currently testing this range. If the RSI breaks below these levels, the price is also expected to break the curve and test the lower trend line. This could cause another 10% pullback, which may further attract significant buying volume to initiate a fresh upswing ahead.
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