Just like Bonk and a few other meme coins, which have posted noticeable gains in the past days, Floki is beginning to show signs of strength after building up for two weeks.
It currently appears bullish and poises for a rally following an 11% surge.
This month started quite rough for Floki following a consistent price meltdown across the crypto market throughout June. However, it regained momentum last weekend and began to increase daily. Posting a serious gain yesterday, it appeared strong and primed for an upsurge, although buying pressure is now slowed down.
An increase in the daily inflow should allow more buying, positioning the market in a more bullish state. The $0.0001 level may serve as an obstacle for the intraday traders. A successful push above the previous monthly high should confirm a slight market structure shift on the daily chart as the market forms a new bullish pattern.
Such a move is capable of launching a major price rally coupled with a positive sentiment from a short-term perspective. While the entire crypto market remains unpredictable, it is important to note that the bulls are currently in charge monthly.
Having said that, Floki’s general outlook is still considered bearish on a micro scale, although the bulls have managed to step back due to a new volume inflow over the past few days. If they fail to sustain momentum, the bears will likely release pressure again.
Floki’s Key Levels to Watch
Source: Tradingview
Looking at the bigger picture on the weekly chart, Floki is slowly forming a bullish move. Surpassing the key $0.000098 level to reclaim last month’s $0.000124 high could trigger a break to $0.000148 and potentially the $0.00019 resistance level.
If it loses grip above the $0.000082 level, there’s a level for a rebound at $0.000077. Right below it lies the $0.00006 level, along with the $0.000052 in case of a breakdown.
Key Resistance Levels: $0.000098, $0.000124, $0.000148
Key Support Levels: $0.000082, $0.00006, $0.000052
- Spot Price: $0.000085
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/floki-price-analysis-prediction-july-7-floki-signals-a-big-move-amid-recent-meme-coins-rally-where-next/