Despite the PointPay listing, FLOKI struggles to break the 24-hour high, with bears taking control and the price dropping to a 30-day low.
- FLOKI bears dominate the market as the price hits a 30-day low.
- MACD signals a bearish trend for FLOKI.
- Bollinger bands signal a lack of buyer interest may result in a downward trend.
FLOKI was trading at $0.00002843 at press time, a 7.10% drop reflecting the market’s persistent gloomy mood.
During the recession, market capitalization and 24-hour trading volume fell 7.40% and 21.56%, respectively, to $274,849,814 and $18,000,674. This drop illustrates the market’s volatility and instability due to the recession, which has lowered trading activity and investor confidence.
The Bollinger bands travel south on the FLOKI price chart as the upper bar reaches 0.0000353780. And the lower bar is 0.0000266349. This movement and decreased trading volume may indicate a lack of buyer interest and a change in mood toward selling, which might add to the downward trend.
The price action is moving from the bottom band, creating green candlesticks, signaling bulls may buy at these lower levels to reverse the negative trend.