Floki Inu Price Prediction: Expect FLOKI To Make A 44% Upswing To $0.0002350

Nancy Lubale
December 1, 2021
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Floki Inu Price Logo

Floki Inu price is trading at the $0.0001655 with a bearish bias amid immense pressure from the upper boundary of the descending channel and 100-period simple moving average (SMA) around $0.0001750. FLOKI bulls are struggling to break out of the descending channel but face stiff resistance upwards.

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Floki Inu Price Could Rise To $0.0002350

Floki Inu (FLOKI) is on the path to recovery after successfully bouncing off the $0.0001227 embraced by the middle boundary of the falling parallel channel. This bounce back took FLOKI price to a high of $0.0001760 before being rejected by the 100 SMA at around $0.0001750.

This was a 45% rise that saw Floki Inu price flip the 50 SMA from resistance to support. At the time of writing, FLOKI is fighting immense resistance from the upper boundary of the descending channel at $0.000169 and the 10 SMA at $0.0001750.

A bullish break out above this level could see Floki Inu price rise to retest the resistance from the 200 SMA currently at $0.0002171.

If FLOKI bulls overcome the resistance from the said level, the meme coin could rise to tag the November 19 range high around $0.0002350 representing a 44% upswing from the current price.

FLOKI/USDT Four-Hour Chart

Floki Inu price

Note that the Moving Average Convergence Divergence (MACD) indicator is upward moving and has just crossed the zero line into the positive region accentuating the upward outlook.

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Looking Over The Fence

Note that the Relative Strength Index (RSI) is showing a negative divergence is it turns downwards away from the overbought region. This means that the bears have not given up on pulling Floki Inu price down.

Hence, failure to hold above the 50 SMA will trigger immense sell orders that would see FLOKI fall to tag the middle boundary of the governing chart pattern at the $0.00010 psychological level.

A drop further may see Floki Inu drop to tag the $0.000050 psychological level or towards the target of the descending parallel channel at $0.000037.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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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.

About Author
About Author
Nancy is a successful finance, crypto analyst and content writer with many years of writing experience finance and blockchain fields. Nancy has been producing quality content for websites in the cryptocurrency industry including Krptotrends, Forexcrunch, InsideBitcoins and Economywatch. She is a Certified Cryptocurrency Expert (CCE) from Blockchain Council. Her interests are in cryptoasset research and technical analysis, Fintech, Blockchain, DeFi, NFTs and Personal Finance. Follow her on X@NancyOmanga for more insights
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.