Floki Inu Struggles at Resistance: Will a Breakout Happen Soon?

• FLOKI is currently holding above the support level at $0.00005400; there is a possibility of short term recovery.

• A bullish rally is likely if the $0.00006000 resistance is broken past.

• Floki Inu’s growth in the medium to long term is on the basis of market sentiment, social media buzz, and broader crypto trends.

At press time, FLOKI’s price is $0.00005628, approximately 2.78% in the last 24 hours. Such a positive movement is a short-term rebound from lows. In the last week, FLOKI lost 19.13% of its current value.

The bears also dominate in the monthly charts, as the coin’s price is currently down by 22.42%. Despite this, FLOKI is slightly up today. The token is being closely watched by traders to see if it has bottomed out or is set for another drop.

FLOKI’s 24-hour Chart. Source: CoinGecko

Indicators’ Contrast

The daily charts for this digital asset exhibit small upward patterns, yet all the indicators display uncertain signals. The summary rating shows selling tendencies because sell signals outnumber neutral and buy signals at 14 to 8 to 4, respectively. 

According to oscillators, the trend is positive since they reveal three buy signals. 

Indicators’ Signals. Source: TradingView

Nevertheless, the moving averages continue to give a strong sell signal. They show thirteen sell signals, one neutral signal, and only one buy signal, signifying that the main trend is still down. 

Today’s slight gain has provoked selling orders for meme-themed token, and we should expect the strong selling force not to change its current direction much.

FLOKI’s Psychological Price Targets

FLOKI’s next move will mostly be contingent on investors’ market sentiment and any other news in the crypto market. The cryptocurrency could overcome its current resistance if investor confidence increases, causing the price to rise to the range of $0.00006200 – $0.00006500. 

In the long run, the price of FLOKI will be determined by a combination of the crypto market movement, community engagement, and the coin’s actual use cases. The digital asset has the potential to enjoy mid-2025 stability with the crypto market trending bullish. Nevertheless, long-term predictions should be taken carefully due to its high volatility.