FLOKI Technical Analysis: Floki Buyers Plan A 20% Surge 

Key technical points:

Past Performance of FLOKI

The FLOKI coin price experienced a surge of buyer’s interest as the meme coin grew 22% last week. As a result, the price action forms a rising channel pattern in the 4-hour chart. Furthermore, the rally surpasses the 50 and 100-period EMA and the $0.000030 psychological mark. 

Source-Tradingview

FLOKI Technical Analysis 

FLOKI coin price shows a bearish candle of 0.67% fall that cracks below the 100-day EMA. However, the lower price rejection evident in the 4-hour candle reflects the possibility of uptrend continuation.

The crucial EMAs (50, 100, and 200) uphold the bearish alignment as the 50 and 100-period EMA collapse under increased buying pressure. Moreover, the 50-period EMA breakout flirts a rally to the 200-period EMA, accounting for an almost 20% price jump.

RSI Indicator: The RSI slope continues the sideways movement in the nearly overbought zone and the 14-day SMA. Hence, the indicator shows a more substantial bullish presence in the 4-hour chart.

MACD Indicator: The MACD and signal lines regain the bullish alignment and undermine the previous bearish crossover. Moreover, the resurfacing MACD bullish histogram reflects a rise in buying pressure. 

In a nutshell, the FLOKI technical analysis prints a bullish picture and increases the possibility of an uptrend reaching the 200-day EMA.

Upcoming Trend 

FLOKI coin price shows an ongoing rally within the rising channel pattern with a solid support trendline. Furthermore, the rally projects the uptrend continuation to the $0.000035 mark.

Conversely, the fallout of the support trendline will lead to the $0.000030 fallout and a price fall to $0.000028, accounting for a 5% downfall.

Support Levels: $0.000028 and $0.000025

Resistance Levels: $0.000035 and $0.000038