Floki Hits 7-Day High, Can FLOKI Surpass Past $0.000343 ATH?
The post Floki Hits 7-Day High, Can FLOKI Surpass Past $0.000343 ATH? appeared first on Coinpedia Fintech News
Story Highlights
Floki saw an upsurge to $0.000196, hitting a 7-day high
Breakout above $0.0002 may attract new investors
Flokis TVL and active addresses have also soared to a large extent
With the substantial bullish range of technicals, the price may elevate to a new all-time high.
The crypto market saw a drop in April, a sizable one since August 2023. However, the bulls woke up to correct the charts with green candles, giving hope for a new rally in May. While meme coin season, even after 4 months, is still at the foothill to burst more, Floki inu ( FLOKI) can make it to the list of top crypto of May 2024 with a significant increase in active wallets in 2 weeks and foreseeing other events.
Additionally, the daily charts are intriguing for the FlOKI, forming good price action in the upcoming sessions. The growing anticipation among investors is creating a buzz again in the market, and investors are eager to see the next events.
Surging TVL and Active Addresses Grab Attention
Floki’s March month was dramatic. The memecoin killed a zero, recorded a yearly high, and entered a correction phase at the end of March. A downturn has been seen since mid-March, forming a parallel pattern.
Amid of the downturn, May started with positive sentiment FLOKI’s active wallets surged 30% in the past 2 weeks, in 24-hour and 7-day frames. This rise could be a potential fundamental to continue the price trend.
Source: Sentiment
Also, the TVL on Floki locker soared 71% from 15.02 m USD in March to 25.72 m USD in May 2024.
Floki Techncihal Analysis
Floki’s at the time of writing is $0.000192, trading in bullish momentum. The market cap rose to 16.30%, and the 24-hour trading volume rose to a whopping 34%, to $285,564,622. A break above the resistance of $0.0002 indicates a positive trend while attracting new investors.
Floki markets is currently facing high volatility of 5.88%, with RSI at 63, just above the signal line suggesting a relatively stable price movement. The MACD is slightly positive with an upward pressure. However, if bears take control FLOKI may drastically result in major sell-offs.
The SMA signals are on strong buy mode with price trading 200-day SMA, the Cross overs for 20-day and 50-day stand bullish too. This could be an opportunity to enter the FLOKI for investors who missed the previous rally, while all the signals are semi-bullish caution should be exercised as the market may face corrections.
Filed under: Bitcoin - @ May 4, 2024 9:10 am