Floki Price Prediction: FLOKI Might Be Close to a Price Surge
In the past 48 hours, the #Folki price has shown interesting movements on the 4-hour chart, catching the attention of cryptocurrency traders and analysts.
The closing prices for $FLOKI in recent sessions have varied from a high of $0.00024252 to a low of $0.00022453, indicating a volatile market.
Despite these fluctuations, certain technical indicators offer insights into the potential direction of the crypto.
The 9 EMA (Exponential Moving Average) and the 20 EMA have been converging, with the former moving from $0.000229775 to $0.000229453 and the latter from $0.000223969 to $0.000225933. This convergence suggests a potential change in momentum, as the shorter-term 9 EMA crosses above the longer-term 20 EMA, indicating a bullish sentiment in the short term.
The MACD (Moving Average Convergence Divergence) indicator also supports this bullish outlook. It has risen, although the histogram values have moved from positive to slightly negative in the latest reading, suggesting a possible slowing down in the bullish momentum but still within an overall upward trend.
Furthermore, the RSI (Relative Strength Index) readings have fluctuated around the 50 to 60 range, with a peak at 60.13, indicating that while the Floki price is gaining strength, it has not yet reached overbought territory, leaving room for potential upward movements.
Based on the technical analysis, #FLOKI seems to be preparing to test the immediate resistance level at $0.00023001. If the bullish indicators hold true, the next targets could be the resistance levels at $0.00024714 and potentially $0.00026748, if the momentum continues.
On the downside, the support levels to monitor are at $0.00022134, followed by $0.00021402 and $0.00020724. A drop below these levels could indicate a shift to bearish momentum, offering opportunities for short positions.
The full analysis and trade strategy were originally posted on ecoinimist.com.
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