FLOKI Technical Analysis and Upcoming Levels

According to expert technical analysis, FLOKI is just one step away from a major up move. Currently, it is facing resistance at the 200 exponential moving average (EMA) on the daily chart.

Based on the historical price momentum, if FLOKI breaks out of the 200 EMA and closes above $0.000147 on a daily candle chart, there are high chances of a 20% surge to the $0.000175 level in the coming days.

However, FLOKI’s relative strength index (RSI) is currently in the oversold territory, which signals a bullish price reversal in the coming days.

FLOKI’s on-chain metrics

Despite the positive outlook, FLOKI’s on-chain metrics show mixed sentiment. According to on-chain analytics firm Coinglass, FLOKI’s long/short ratio currently stands at 1.048, indicating bullish market sentiment among traders. Ratio values ​​above 1 are considered positive.

However, traders on Binance appear to be quite bullish on FLOKI. In the past four hours, 66% of traders were long the meme coin, while 34% were short.

Furthermore, despite the market reversal, FLOKI’s future open interest remained unchanged over the past 24 hours. This stable open interest suggests that investors may be reluctant to initiate new positions before a breakout above the 200 EMA resistance.

Current Price Momentum

At press time, FLOKI is trading near $0.000143, with a price increase of over 2% over the past 24 hours. Despite the significant price increase, investor and trader participation has increased significantly, as its trading volume has increased by 70% over the same period.