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Floki: The memecoin could rally by 15% if THIS happens
The meme-based cryptocurrency, Floki (FLOKI), has been under intense scrutiny in recent times. However, according to the latest data from various on-chain analytics platforms and technical indicators, it appears that FLOKI is poised for a significant upswing.
As per Coinglass, FLOKI’s Open Interest (OI) has increased by 14% over the past 24 hours. This surge in interest suggests that there may be a shift in sentiment towards the memecoin. Furthermore, according to TradingView data, FLOKI has formed a bullish morning star candlestick pattern at the crucial support level of $0.00016 and the 200 Exponential Moving Average (EMA) on the daily time frame.
The current price action suggests that FLOKI’s bulls are gaining strength, with the asset currently trading near $0.000175, having gained over 3.2% in the past day. Additionally, it appears that participation from traders and investors has decreased by 14%, indicating a lack of bearish pressure.
In the event that FLOKI breaks above the current resistance level at $0.000175, there is a strong possibility that the asset could rally as much as 15% to reach the $0.00021 mark.
While this prediction is uncertain and should not be taken as investment advice, it is essential for traders and investors to take note of these developments in order to make informed decisions regarding their portfolios.
As we move forward into the coming days, it will be interesting to see whether FLOKI’s momentum can continue or if the asset experiences a reversal.
Source: ambcrypto.com
