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FLOKI price prediction – Traders, should you prepare for the worst now?

2min Read

FLOKI’s downturn could persist if it breaches the crucial support level at $0.0010932.

FLOKI price prediction - Traders, should you prepare for the worst now?
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  • Breaking through a certain level may push FLOKI’s price down to or even below its August low of 0.00009585
  • Technical indicators pointed to further declines, with the MACD notably forming a death cross

FLOKI has been seeing significant losses across various timeframes lately. While it fell by 19.95% over the past month, it also saw losses of 12.13% and 2.27% on the weekly and daily charts, respectively. 

This bearish trend could intensify if the major support, which previously acted as a buying catalyst, fails to sustain buying pressure. However, previous instances suggested FLOKI should have rallied higher instead. 

FLOKI’s price action contingent on key support level

Prior expectations for FLOKI included a bullish upswing to $0.00021116 following a breakout from a descending line pattern — A symbol that precedes a bullish move.

However, as the crypto market took a downturn, FLOKI also declined. At press time, it was approaching a major support zone at $0.0010932, which previously marked the breakout from the descending line.

This support level has historically triggered significant rallies, as seen on 6 March and 13 April. FLOKI surged by 185.34% and 217.59%, respectively, after hitting this level on both these occasions. 

Source: Trading View

Should this support fail to hold, FLOKI faces potential declines to two key targets – First of all, to $0.00009585 — A level last seen on 5 August and potentially further to $0.00009112, marking the altcoin’s lowest point since 5 March.

Can FLOKI’s price drop further?

Technical indicators, including the Moving Average Convergence Divergence (MACD) and the Awesome Oscillator (AO), both projected a potential drop in FLOKI’s price. 

The MACD formed a ‘death cross,’ indicated by the MACD line (blue) crossing below the signal line (orange) and moving deeper into negative territory. This can be interpreted as a sign of increasing selling pressure as buyer interest fades.

Source: Trading View

Additionally, AMBCrypto’s analysis of the altcoin’s identified a shift towards bearish momentum. Here, it’s worth noting that this indicator compared recent price action with longer-term market trends. 

If this downward pressure continues, the AO could dip below zero. This would mean a further decline in FLOKI’s price to its previously mentioned targets. 

To counteract these potential losses, a hike in buying pressure, possibly driven by external factors, would be necessary to push the market back upwards.

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Olayiwola Dolapo is a Crypto Research Analyst at AMBCrypto, driven by a mission to make the digital asset space more transparent and understandable for all. His journey was catalyzed by an early experience in the market that underscored the importance of deep, foundational knowledge—a principle that now guides his professional work. His expertise is grounded in a Bachelor's degree in Chemistry. However, he also has a strong interest in economics which provides him with a strong framework for analyzing market behavior and the financial principles of blockchain technology. He combines this economic perspective with a specialization in technical analysis and on-chain data interpretation. This dual approach allows him to dissect price trends while also evaluating the underlying health and activity of a network. At AMBCrypto, Dolapo is dedicated to producing data-driven, educational content. He meticulously uses on-chain tools and technical charting to identify and explain emerging opportunities, helping readers move beyond hype and make decisions based on robust analysis. His work is a testament to his commitment to helping others navigate the complexities of the crypto market with clarity and confidence.
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