Floki ($FLOKI) has been seeing fluctuating price movements recently. Currently priced at $0.000138, it has experienced an increase of 0.12% over the past 24 hours.
Despite these minor gains, the token is consolidating near key support and resistance levels, raising questions about its potential short-term price trajectory.
Current price action and key levels
The current FLOKI price is $0.000138, marking a slight 0.12% increase within the last 24 hours. The market cap stands at $1.32 billion, with a decrease of 16.49% in 24-hour trading volume, currently at $133.52 million.
FLOKI’s price movement shows signs of volatility, with changing green and red areas indicating moments of upward and downward price action, respectively.
The chart highlights key price levels, with the entry point at $0.0001372. Traders are eyeing a potential surge towards resistance zones at $0.000151 and $0.0001673.
“BH”GJBB” targets represent the expected upside if the price momentum aligns with the broader market sentiment. Conversely, the stop-loss level has been established at $0.0001321 to limit potential downside risk.
FLOKI derivatives data: Market activity insights
Over the past 24 hours, the trading volume in the futures market has dropped by 45.49%, amounting to $12.52 million. Additionally, open interest has decreased by 0.36%, totaling $26.60 million, which suggests reduced trading participation from traders.
The long-to-short ratio data across exchanges shows a mixed sentiment. Binance reports a ratio of 1.2139 for the FLOKI/USDT pair, implying a relatively balanced market. In contrast, OKX shows a higher long-to-short ratio of 2.18, indicating a stronger bullish sentiment.
The “Rekt” data, which reflects traders’ positions, shows minimal short positions, with a 24-hour “rekt” value of $50.25. This indicates a general lack of bearish activity, with most traders opting for long positions.
Technical indicators: MACD and RSI
FLOKI’s price action is further analyzed using the MACD and RSI indicators. The MACD shows a bearish trend, with the MACD line positioned below the signal line and the negative histogram bars extending further down. This suggests that downward momentum may continue unless a reversal in momentum occurs.
The RSI reading stands at 35.98, which indicates an upcoming oversold situation. The asset has not reached the oversold zone (below 30), so a short-term price bounce or reversal is indicated. RSI tracking will show if FLOKI remains in its price decline or if it will experience brief upward movement.
