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FLOKI PRICE ANALYSIS & PREDICTION (December 20) – Floki Drops To Three-Month Low Following A Serious Breakdown, Can It Recover?
Amid the latest crypto meltdown, Dog-themed meme coins are suffering the most loss as Floki leads the pack with a 15% drop in the last 24 hours. The bearish daily chart indicates that it has now sat above September’s high. Unfortunately, the past month has been tough for Floki as it failed to advance bullishly above the $0.0003 level. An attempt to break above this key level earlier this month proved abortive and the crypto formed a double-top pattern. This bearish pattern led to a serious breakdown this week and the price plummeted below the key $0.0002 level yesterday. Volatility increased today, causing it to slip to a low of $0.000177 for the first time in three months. Rejecting this low, the price bounced back and is currently trading at $0.000188.
A further bounce could bring a rapid retest at the broken key level before deciding on where next to head. For now, the bears are gaining control. However, it is essential to note that the latest breakdown is considered a retracement of last month’s impulsive movement. We can expect the bulls to step back in action if the current daily low holds as support. Otherwise, Floki may enter the $0.00015 range before bouncing back.
Looking back, it has seen over 25% losses in the past month of trading.
Floki’s Key Levels to Watch
Source: Tradingview
Source: nulltx.com
