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FLOKI Price Prediction: Is a Breakout Next After Consolidation?
The FLOKI cryptocurrency has been trading within a range-bound market for the past week, sparking questions about whether it can break out of its current consolidation.
While there have been some recent price fluctuations, the overall trend has remained bearish, with losses of 1.17% in the last 24 hours. At press time, the crypto was valued at $0.000183.
Despite the pessimistic outlook, market experts are divided on whether FLOKI will be able to break out from its consolidation pattern anytime soon.
One school of thought suggests that if buyers re-enter the market once the MACD signals a buy signal, it could potentially support a bullish breakout.
However, there is another possibility where FLOKI might fall below the demand zone and head in a bearish direction instead. This scenario is more likely to happen if buyers continue to shy away from entering the market.
The price action of FLOKI has been characterized by a lack of conviction on both sides – neither sellers nor buyers seem committed enough to push prices higher or lower. The Crypto market remains volatile, making it challenging for investors to make informed decisions about their investments.
In terms of key levels, there are two points that traders should keep an eye on: the $0.000180 demand zone and the resistance level at $0.000186. If FLOKI is able to break above this supply zone, the potential for a strong upswing may arise.
On the other hand, if sellers gain control of the market and push prices below the demand zone, the crypto could continue its downward trend.
Source: ambcrypto.com
