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The FLOKI price jumped over 3% in the last 24 hours to trade at $0.0001938 at press time.
FLOKI Price Overview
4-hour chart FLOKI/USDT (Source: TradingView)
Recent trading sessions have seen the FLOKI price exhibit a mix of fluctuations and potential bullish undertones as per the latest data from the 4-hour chart. The cryptocurrency has had closing prices ranging from $0.00018248 to $0.00019484, with a notable surge in the last period analyzed.
The Exponential Moving Averages (EMA) on the chart provide significant insights. The 9 EMA, with values from $0.00018626 to $0.00018798, recently rose above the 20 EMA, which escalated from $0.00018239 to $0.00018378. This crossover is typically a bullish signal, suggesting potential upward momentum as the shorter-term average moves above the longer-term average.
Conversely, the Moving Average Convergence Divergence (MACD) presents a slightly bearish signal. The MACD values remain below the signal line, indicating bearish momentum could be in play. The histogram values, which measure the gap between the MACD and its signal line, have been negative but show signs of narrowing, suggesting a possible decrease in bearish momentum.
The Relative Strength Index (RSI) readings oscillate between 53.19 and 61.96. The latest RSI at 61.96 points towards increasing buying pressure and is nearing the threshold of 70, which often suggests overbought conditions.
Key Levels to Watch
Looking at the key resistance and support levels, FLOKI is approaching a significant resistance at $0.0001949. Should the bullish indicators prevail, breaking this resistance could open the way towards the next hurdles at $0.00019998 and $0.00020246. Conversely, support levels at $0.00019188 and $0.00019125 will be critical to watch if the price retreats. A further drop could see the price testing deeper support at $0.0001862.
For traders considering entry points, a breakout above $0.0001949 could serve as an initiation for a long position with targets at $0.00019998 and $0.00020246. Stop losses should be considered below the nearest support at $0.00019188 to mitigate risks. On the flip side, should bearish signs dominate and the price falls below support levels, a short position might be considered with an exit strategy near lower support levels.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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