201
From a technical perspective, the overall trend of FLOKI/USD is bearish. Moreover, the token is struggling to find sufficient support from the 0.5 Fibonacci Level, which could result in a downfall for the FLOKI token.
Key technical points:
- The FLOKI token forms a head and shoulder pattern in the 4hr time frame chart
- The daily chart RSI shows a strong bearish divergence in its chart.
- The intraday trading volume in the FLOKI token is $58 Million, indicating a 20% fall.
Source- FLOKI/USD chart by Tradingview
On November 4th FLOKI token rally experienced intense selling pressure from the $0.0004 mark, which initiated a retracement phase in its technical chart. The token price plunged to the 0.5 Fibonacci retracement level and is trying to obtain sufficient support from this level.
However, The Relative Strength Index (56) shows a steady downtrend in its chart, indicating the increasing strength of the market sellers.
FLOKI/USD Chart In The 4-hour Time Frame
Source- FLOKI/USD chart by Tradingview
The FLOKI token revealed a head and shoulder pattern in this lower time frame chart, providing a great short opportunity for crypto traders. The neckline for this pattern is at the $0.00022 mark, and the price is currently hovering just above this level.
The MACD indicator states a bearish momentum for this token, as both the MACD and the signal lines are steadily moving below the neutral zone.
The 4-hour chart also shows the 50 and 20 EMAs giving bearish crossovers, while the 100 EMA could help the price hold above its neckline. If it gains enough bearish momentum, the price could fall to the $10700 or $0.00018000 support levels.
- Price Analysis
- Trending
- Kishu Inu Price Prediction: KISHU stares into the abyss as key technical pattern spells doom
- Floki Inu Price Analysis: FLOKI Token Loses The Bullish Craze, Is This A Good Time to Sell And Protect Your Profits?
- Shiba Inu Price Analysis: SHIB Token Retraced To 0.5 FIB Level, Will It Resume Its Rally Or Dip More?
- OMG Network Price Analysis: OMG Token Re-established A Crucial Support Level, Is This A Good Buy?
- MINA Price Analysis: MINA Skyrockets 72% To A New All-Time High At $6.72
- IOTEX Price Prediction: IOTX Correction Seeks To Undo All The Recent Gains As $0.132 Looms
- Serum Price Analysis: SRM Coin Back To The Crucial Support, Good Time to Buy?
- BTC Price Prediction: BTC Price All Set To Resume A Parabolic Trajectory, Here’s Complete Analysis
- Mina Price Analysis: Will MINA Coin Breach The All-Time Level Of $6.4?
- Zcash Price Analysis: The ZEC Coin Price Finally Breaks Free From This Crucial Resistance
- SEC Probe against Terraform Labs, yet another unregistered security fiasco
- Bitcoin (BTC) Long-Term Holder Distribution Begins, Watch Out for the Bears
- Kishu Inu Price Prediction: KISHU stares into the abyss as key technical pattern spells doom
- Shiba Inu (SHIB) Trading Volume Crosses $5.6 Billion, US Senate Candidate Calls it a Big Deal
- Breaking: Prime Accused in Indian Bitcoin Scam Claims to Have Hacked Bitfinex Twice!
- Ethereum Foundation Sends $100 Million Worth of ETH to Kraken, Another 60% Crash on Cards?
- MINA Price Analysis: MINA Skyrockets 72% To A New All-Time High At $6.72
- IOTEX Price Prediction: IOTX Correction Seeks To Undo All The Recent Gains As $0.132 Looms
- Bitcoin Taproot to get Activated in 3 Days, Is It Priced In or BTC Will Move Up?
- These Bullish and Bearish Signals for Ethereum (ETH) Can Determine the Price Action
