The post Is Meme Coin Season Back? FLOKI Price Is Up In The Last 7 Days appeared on BitcoinEthereumNews.com.

FLOKI’s price has surged 287.29% over the past year and nearly 15% in the past seven days, making it the fifth-largest meme coin on the market. While its 7-day Relative Strength Index (RSI) remains neutral, the coin shows strong potential for further growth. Additionally, the FLOKI Ichimoku Clouds indicate a bullish outlook for the coming weeks, suggesting the possibility of more price increases. FLOKI RSI Reflects Neutral Momentum, but Room for Growth Remains The 7-day RSI for FLOKI is currently at 51, indicating neutral price momentum over the past week. The RSI measures the speed and magnitude of recent price changes, operating on a scale from 0 to 100. When the RSI reads above 70, it suggests that buyers have pushed the asset into overbought territory, which could lead to a price correction. On the other hand, when the RSI falls below 30, it indicates that sellers have oversold the asset, possibly making it undervalued and primed for a price recovery. Read more: 12 Best Altcoin Exchanges for Crypto Trading in September 2024 FLOKI 7D Relative Strength Index. Source: Santiment. With an RSI of 51, FLOKI is sitting right near the midpoint of the scale, signaling a neutral stance. This level indicates that the buying and selling pressures are fairly balanced. In other words, neither bullish nor bearish sentiment is currently dominating the market. While the price is not in a high-risk zone for being overbought or oversold, this could suggest that FLOKI has some room to grow in the next weeks. Ichimoku Clouds Paint a Bullish Scenario The Ichimoku Cloud on FLOKI’s 4-hour chart offers insight into the current price movement and market sentiment. This technical indicator highlights potential support and resistance levels, trend direction, and momentum. Currently, FLOKI’s pric is sitting above the cloud, or Kumo, which signals…

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Filed under: News - @ September 24, 2024 10:23 pm