FLOKI Price Perspective Over daily Chart?

28 ago

The Floki had an interesting price action on the daily chart in its first quarter. The price had peaked first at $0.000301, after which it dipped and formed support at $0.000111 demand zone by mid-April 2024. The FLOKI displayed effective bounces from the demand zone, where it blasted off again and built a new ATH of $0.000348 by June 5th, 2024.
however, the sell-offs began again after the second week, which led its price to dip back to the previous demand zone by the first week of August. Over a deeper look into its daily chart, the price on August 5th formed a liquidity grab candle and started rising, which showed a more than 50% jump in its price.
In the witnessed surge on the daily chart, this week contributed nearly 20% of gains and pierced the 20-day EMA band. However, the momentum showed struggling signs near dynamic EMA bands of 50-day, and 200-day EMA, which also nears the resistance level of $0.000158.
The MACD has displayed a bullish crossover with a histogram growing at 0.000004672, and the RSI flashed at 57.55, indicating bullishness.
Therefore, if the price continues surging, the next resistance levels are at $0.0002201 and $0.0003012. However, failing to do so would lead to a price decline in FLOKI, and the bears would look at the nearest supports at $0.0001138 and $0.0000919, respectively.