The Floki crypto rose massively during the start of March 2024 and reached a peak of $0.00030000 by March 11th, 2024, in a matter of days the price evolved with massive gains. But, failed to sustain its gains and deteriorated in a wedge, until it was back to its prior best support, which was at $0.00011000.
However, the Floki Inu crypto has demonstrated a rebound as the price surged from a critical formed support level of around $0.00011000 on the chart, by April 13th. The price showed the failure of bears, and bull pressure started to rise, which led its price to break out from the wedge.
At press time, the crypto is trading at $0.0001976 with an intraday gains of 2.50%. The Floki crypto appears primed for a phenomenal rally amid positivity spread by various personalities on social platform. Hence, if it accumulates sufficient buying power, it could even break the resistance level of $0.00030000 and could zoom to new highs above this resistance
Similarly, indicator-wise, the asset is demonstrating bullishness as it is above 50-day and 200-day EMAs. Likewise, MACD shows a bullish cross above zero line at 0.00000680, and RSI flashing at 55.98.
On the contrary, if the FLOKI declines and breaks the previous swing low of $0.00015850, the breakout could fail, and the pattern will lose its significance and it will become invalid. With this failure in this situation, buyers could be paralyzed, causing them to decline towards lower support.
However, the Floki Inu crypto has demonstrated a rebound as the price surged from a critical formed support level of around $0.00011000 on the chart, by April 13th. The price showed the failure of bears, and bull pressure started to rise, which led its price to break out from the wedge.
At press time, the crypto is trading at $0.0001976 with an intraday gains of 2.50%. The Floki crypto appears primed for a phenomenal rally amid positivity spread by various personalities on social platform. Hence, if it accumulates sufficient buying power, it could even break the resistance level of $0.00030000 and could zoom to new highs above this resistance
Similarly, indicator-wise, the asset is demonstrating bullishness as it is above 50-day and 200-day EMAs. Likewise, MACD shows a bullish cross above zero line at 0.00000680, and RSI flashing at 55.98.
On the contrary, if the FLOKI declines and breaks the previous swing low of $0.00015850, the breakout could fail, and the pattern will lose its significance and it will become invalid. With this failure in this situation, buyers could be paralyzed, causing them to decline towards lower support.