Floki Inu (FLOKI) Price Prediction: Will FLOKI Price Rise?

Currently, Floki Inu (FLOKI) is trading at $0.00005345 after a 7.33% decrease in the last 24 hours and a significant 24.58% decrease over the past 30 days.

Floki Inu (CRYPTO:FLOKI) tokens were trading lower on Monday amid overall weakness in the crypto market and ahead of the U.S. inflation figures.

What Happened: Floki Inu tokens were down by 7.33% over the last 24 hours and had fallen by 24.58% over a period of 30 days, at press time.

The CanCanChain analysis on Benzinga Pro showed that FLOKI had fallen below an ascending trendline and the 20-week Simple Moving Average (SMA) on the weekly chart. This indicated a weakness in the medium-term trend.

The 20-week SMA had acted as a support level in the past, and a break below this level could lead to further declines in the short term.

However, the Relative Strength Index (RSI) on the daily chart was still above the 30s, which showed that the token was not oversold yet.

The Bollinger Bands had also widened recently, which indicated increased volatility in the market.

Key Levels To Watch:

Direct Resistance Level: $0.00005500

Heiken Ashi Candles: Green

Relative Strength Index (RSI) on the 14-period setting: 26.853

Direct Support Level: $0.00005200

Average True Range (ATR): 0.00000200

What Next: If buying pressure resumes, and the token manages to break above the key resistance level of $0.00005500, then it could rally further to reach the next resistance level at $0.00005800.

If market sentiment remains uncertain, and the token continues to consolidate, then it could trade in a range between the support level of $0.00005200 and the resistance level of $0.5500.

If selling pressure intensifies, and the token breaks below the key support level of $0.00200, then it could fall further to reach the next support level at $0.00004900.

Investment Risk Consideration: Investing in Floki Inu, like many meme coins, carries risks due to its high volatility and speculative nature. It is advisable to conduct thorough research, monitor market developments, and consult with financial advisors before making any investment decisions in this volatile market.