FLoki Inu Price Prediction: FLOKI Could Deep A Further 11% To $0.0001181 Before Restarting The Uptrend

Floki Inu price prediction is bearish in the short term as it trades in the red around $0.00013218. Despite this bearish outlook, FLOKI remains a rising start among meme coins. The team behind Floki Inu has made a series of announcements this years concerning new partnerships and determination  to be listed on major crypto exchanges. This are set to bolster Floki Inu Vikings to take the FLOKI price higher in the long term.

Floki Inu Price Prediction: FLOKI Bears Target $0.00011819
Floki Inu price has formed a falling flag chart pattern on the four-hour chart suggesting that the current correction may continue in the near term.

FLOKI rose a massive 57.02% from $0.0001242 to a high of $0.00019503 on December 12 forming the flag post for the chart pattern. Since then, Floki Inu has recorded a series of lower highs and lower lows forming the flag of the chart pattern. FLOKI/USDT price has continuously been rejected by the upper boundary of the flag.

If bulls lose the immediate support at $0.00013028 embraced by the middle boundary of the flag, it will drop towards the $0.000011819 support floor embraced by the lower boundary of the flag. This is the target of the chart pattern on the four-hour chart and if Floki Inu price reaches here, it will shed 11.06% from the current price.

FLOKI/USDT Four-Hour Chart

Note that the decreasing volume and the downward movement of the Relative Strength Index (RSI) as shown on the same chart accentuates this bearish outlook. In addition, the position of the RSI at 45.63 close to the overbought region suggests that bears have a firm grip on the FLOKI price.

Moreover, the Moving Average Convergence Divergence Indicator has just sent a call to sell Floki Inu on the same timeframe. This happened today during the early Asian trading session when the 12-period Exponential Moving Average (EMA) crossed below the 26 EMA suggesting that FLOKI’s market momentum has flipped red.

How Can Floki Inu Bearish Outlook Be Invalidated?
Note that the bearish Floki Inu price prediction can be invalidated if FLOKI overcomes the resistance posed by the upper boundary of the flag at $0.00014291. If this happens, it will confirm a bullish breakout and it is sustained and FLOKI overcomes the 100 and 200 SMAs at $0.0001518 and $0.00017369, it may retest the December 12 intraday high above $0.000195. If this happens, Floki could leap more than 50% from the current price.

A series of announcements on significant Floki Inu partnserships are likely to fuel such a bullish move. These include a December 08 announcement of a partnership with Wintermute exchange whose influence the meme coin is hoping to leverage to have it  listed on the major cryptocurrency exchanges. Floki Inu team also announced a partnership with Turkish football champion Fenerbahçe S. K. on December 9 and with Dutch team FC Twente on December 11 that are expected to boost its brand appearance and attract more investors.

These fundamentals and many more point to a bullish Floki Inu price prediction in the long-term.

The post FLoki Inu Price Prediction: FLOKI Could Deep A Further 11% To $0.0001181 Before Restarting The Uptrend appeared first on Coingape.

Source: https://coingape.com/floki-inu-price-prediction-floki-could-deep-a-further-11-to-0-0001181-before-restarting-the-uptrend/

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
    LCG 0.3pips (variable) margin: 3.33%
  • Back to top