$FLOKI Price Prediction: Bearish Trends and Key Levels - BeinCrypto Analytics

On the daily chart, Floki Inu experienced significant volatility after reaching an all-time high of $0.00035. The subsequent 54% decline from June 5 to the present has been influenced by several key technical factors.

In our previous analysis, we highlighted that Floki’s price might drop following breakouts of key support levels.

The dark red baseline of the Ichimoku Cloud served as a crucial support level during the rally to $0.00035. Well, FLOKI fell below this baseline on June 7, signaling a shift in market sentiment and acting as a catalyst for further declines.

The price is currently testing the 200 EMA (green), a significant support level on the daily chart. Historically, the 200 EMA is considered a critical long-term indicator. A breach below this level could lead to increased volatility and a further downside move towards $0.00015.

The immediate support levels to watch are $0.000165 and $0.000157. Should these levels fail to hold, the next critical support is at $0.00010. On the resistance side, FLOKI must reclaim the $0.000188 level to initiate any significant bullish reversal.