Floki Inu (FLOKI) is showing resilience despite a recent dip, currently trading at $0.00009069. Analysts point out the $0.00009300 support area as crucial, charting the next likely breakout pattern of the memecoin.
Floki Inu is now trading at $0.00009069 and has seen a decline of 4.23% within the past 24 hours. The meme cryptocurrency now has a market cap of $866.82 million with a strong $83.35 million in volume within the past 24 hours. Market share now stands at 0.02% and shows strong activity in spite of the recent drop.
Resistance retest near $0.00001600 ahead
Crypto Analyst Tony highlighted the price of $0.00009300 and called it a very important zone of support for FLOKI’s recent price action. Charts show this level being tested multiple times, which strengthens the idea that it is acting as a strong base. Buyers still defending this area is a vote of confidence in the coin and can be seen as a buildup for a reversal.
According to the projected wave structure, FLOKI may enter a sideways consolidation phase before aiming higher. The chart outlines a possible resistance retest at or near $0.00001600 that can become a crucial bull target within a few weeks or months.
On the other hand, the breach of $0.00009300 might contradict this optimistic scenario. Therefore, trigger the sideways movement or decrease in the token’s value. This price is the foundation of the bull case of FLOKI’s medium-term, if the overall market momentum gets stronger.
Floki technical signs point toward stability
On the daily chart from TradingView, limiting FLOKI to $0.00009452 after a pullback from the high of the year at $0.00015777 can be observed. The first indications of a potential MACD bull crossover are happening, as the momentum measures are starting to be changed, the MACD line is decelerating, and the histogram is getting smaller.
At the same time, the Chaikin Money Flow (CMF) is -0.07, still negative but getting closer to zero gradually. This arrangement signifies that the crypto FLOKI is stabilizing after the decline.
Strengthening of buying inflows would imply that the accumulation might have increased. Thus providing more support to the $0.000093 support level. If a bullish MACD crossover is verified and the Chaikin Money Flow indicator (CMF) is positive. FLOKI would be able to break through its resistance levels between $0.00001300 and $0.00001600.
