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FLOKI Price Action Signals Possible Uptrend in Near Term
FLOKI Price– FLOKI experienced a decline throughout June, losing about 12.4% of its value during the month. The memecoin saw an attempted recovery in the second week but also faced pressure testing a critical support level at $0.0000745. Despite this, the past week showed a shift as this support was reclaimed, and bullish investors are now pushing FLOKI towards the psychological resistance level of $0.0001.
Technical Movements Signal Potential Rebound
On June 29, FLOKI broke above the previous daily lower high of $0.0000754, signaling a bullish market structure shift. This was reinforced by a pattern of higher lows and higher highs, suggesting the momentum remains positive despite some bearish signals from moving averages. Currently, the price is trading above the 50-day moving average (DMA), which often indicates sustained support.
RSI and Momentum Indicate Growing Buyer Interest
The Relative Strength Index (RSI) recently climbed back above the neutral 50 mark, signaling increasing buying interest. This momentum on the daily chart encouraged a deeper look at the 4-hour timeframe. Here, AMBCrypto identified that the local supply zone between $0.00008 and $0.000082—resisting FLOKI bulls since mid-June—has been breached, opening the door for potential buying opportunities on retests of this area.
Key Resistance Levels to Watch
The next significant resistance lies near $0.0000987, just below the psychological $0.0001 level. Traders may observe price behavior as FLOKI approaches this threshold, potentially taking profits or monitoring for further movement.
In summary, while FLOKI faced downward pressure in June, recent technical signals hint at a cautious but promising bullish setup. Market watchers will be closely observing price action around key support and resistance zones to gauge the memecoin’s next move.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
