- FLOKI jumps over 30%, with the price climbing past $0.0001295.
- Daily trading volume has skyrocketed by more than 371%.
The push for a sturdy recovery in the crypto space has brought in a mixed trend, displaying both green and red flags. The largest assets like Bitcoin (BTC) and Ethereum (ETH) are hovering at around $118.3K and $3.3K, respectively. Notably, the meme coin market cap has reached $77.7 billion, followed by a 4.5% gain.
Among the meme coins, dog-themed asset FLOKI has jumped by over 30.79%, claiming the top spot among the 24-hour gainers. The meme coin opened the day trading at a bottom of $0.00009802, and with a steady bullish move on the upside, pushed the price to a high of $0.0001392, breaking the key resistance between $0.00009810 and $0.0001386 zones.
As per CMC data, at the time of writing, FLOKI traded at around the $0.0001295 mark, with a market cap of $1.22 billion. Meanwhile, the daily trading volume of the meme coin has skyrocketed by over 371%, reaching $696 million. Moreover, the market has seen an $876.82K worth of FLOKI liquidation in the last 24 hours, according to Coinglass data.
Is FLOKI’s Momentum Heating Up?
FLOKI’s technical analysis reports that the Moving Average Convergence Divergence (MACD) line has crossed above the signal line, indicating a potential bullish crossover, and likely the asset’s price may rise. In addition, the Chaikin Money Flow (CMF) indicator value resting at 0.12 suggests that the capital inflow is into FLOKI, with moderate buying pressure in the market.
The four-hour price trend graph reveals the upside trading pattern. The price could move up and test the immediate $0.0001301 resistance level. Further gains might potentially trigger the golden cross to unfold. The mighty bulls would drive the FLOKI price above the $0.0001311 mark.
Assuming the failure of the meme coin to climb above the $0.0001298 range, the price could likely slip and bring in a retest of the nearby support at the $0.0001289 range. The subsequent support of FLOKI might be found around $0.0001280, with the emergence of the death cross.
In addition, the asset’s daily Relative Strength Index (RSI) settled at 73.68, signalling the overbought condition. It may be due for a cooldown after recent gains. Besides, FLOKI’s Bull Bear Power (BBP) reading of 0.00002587 is positive, implying a moderate bullish strength in the market, which might continue the upward momentum.
Highlighted Crypto News
Can Ethereum (ETH) surpass $3,407 after hitting a five-month high?
Source: https://thenewscrypto.com/floki-takes-off-with-a-30-price-surge-and-eyes-the-0-00020-target/