Floki Inu Price Analysis: FLOKI Should Defend The $0.0001743 To Sustain The Uptrend
Floki Inu price is up 9% on the day and trades in the red after recording three straight bullish sessions between November 28 and December 02. Things are looking good for traders on the daily timeframe but for traders on the shorter time frames, caution should be taken as FLOKI threatens to fall further.
However, if FLOKI is sustained above the 200 period Simple Moving Average (SMA) it might make an impressive comeback with $0.0002050 in the offing.
Floki Inu Price Bulls Should Defend The 200 SMA Support
Floki Inu (FLOKI) is trading at $0.0001775 above the 200-period Simple Moving Average (SMA) at $0.0001743.
Defending this support is crucial for the meme coin bulls as losing this support will pull the FLOKI price towards the $0.00060 psychological level. A drop further could see FLOKI/USDT drop further to tag the $0.00057 level were the 50 and 100 SMAs converge.
This bearish outlook is validated by the downward movement of the Relative Strength Index (RSI) indicator and the Movign Average Convergence Divergence (MACD) indicator. Also, note that the MACD is about to sent a call to sell FLOKI which might take place in the near term when the 12-exponential moving average (EMA) crosses below the 26 EMA.
FLOKI/USDT Two-Hour Chart
On the upside, if Floki Inu price sustains above the 200 SMA, it will make a sharp upswing towards the November 23 intraday high above $0.000205. If this happens, it will represent a 17% upswing from the current price.
The RSI shows that FLOKI was previously in the overbought region indicating that the bulls might still be focused to take Floki Inu higher. Moreover, the MACD line (blue) is positioned above the signal line (orange) indicating that the market is still bullish. Furthermore, the MACD is positioned above the zero line in the positive region indicating that the market sentiment for Floki Inu is positive adding credence to the optimistic outlook.
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
