FLOKI Price Up 9%: Is a Breakout Above Resistance Imminent?

The Floki Inu (FLOKI) price is up 9.01% on the 3-day chart. After falling in 2023 and early 2024, FLOKI shows signs of recovery. But key resistance levels remain.

The price action formed an ascending triangle pattern. Traders and analysts are waiting for a rally to start. But the path forward is uncertain. Previous resistance levels hint at possible pullbacks.

Crypto Rand, an analyst, says the Floki Inu market faces tough resistance around 0.00002700 USDT. This resistance has been hard to break through. Since October, price movements tested this resistance level, but each surge stalled. Traders are cautious.

Floki Inu’s Price History

Floki Inu has pulled back from previous resistance zones near 0.00002000 and 0.00002100 USDT. These price retracements make the market hesitant as it sits below key resistance levels.

Source: X

Despite this, the current consolidation phase suggests the token might be preparing for a big move. But traders should be ready for possible retracements before a potential breakout.

Read also : Pepe, Bonk, and Floki Price Analysis: Can the Rally Continue?

Floki Inu’s market cap is $2.31 billion, with a daily trading volume of $426.99 million. It dipped 1.07% in the past day. The current supply of FLOKI tokens is 9.59 trillion, with a total supply of 9.67 trillion. This gives the token liquidity and potential for volatility.

Floki Inu Technical Analysis

The technical outlook for Floki Inu shows a mild bullish momentum, with the MACD (12, 26) indicator currently above the signal line.

Source: TradingView

The RSI (14) is at 49.38, just below neutral. This indicates a balanced market, neither overbought nor oversold. Although recent RSI values dropped slightly, the token has room to move up if momentum shifts.

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