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Since the fall in November, the FLOKI token price has followed a descending triangle pattern. This pair is resonating between the falling trendline and $0.000153 support as it slowly approaches the apex. The crypto traders can expect a strong directional move once the price escapes this pattern.
Floki Key technical points:
- The RSI chart shows a bullish divergence in the 4-hr time frame chart
- The intraday trading volume in the Floki Inu token is $36.2 Million, indicating a 207.5% gain.
The last time when we covered an article on Floki Inu on December 13th, the token price displayed a sudden 40% pump trying to break out from the resistance zone around the $0.00016 mark.
However, the buyers couldn’t sustain above this level, and therefore the price fell back to the bottom support of $0.000115 on December 20th. Furthermore, the pair continued to move forward and is still consolidating between these same levels.
The FLOKI token price moving below the 20-and-50 day EMA, indicating a bearish trend in this token. The daily Relative Strength Index (44) confirms a bearish sentiment in its price, with its line moving in a sideways rally below the neutral zone.
Source: coingape.com
