Strong

FLOKI

Narrative

Rise

The post <a href="https://coinpedia.org/price-analysis/floki-price-triggers-a-strong-recovery-a-20-rise-may-invalidate-the-bearish-narrative/" rel="noopener noreferrer nofollow">FLOKI Price Triggers a Strong Recovery: A 20% Rise May Invalidate the Bearish Narrative</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a slight change in market dynamics, AI tokens and Memecoins have regained their lost momentum. While the major tokens within the top 10 maintain a sluggish trend, the prices of FET and AGIX <a href="https://coinpedia.org/price-analysis/after-20-rise-ai-tokens-fetch-ai-fet-singularitynet-agix-eye-on-another-25-jump/" target="_blank" rel="noopener noreferrer nofollow">lead the top performers</a>, while FLOKI &amp; PEPE have just begun with a strong upswing. If the tokens maintain a healthy upswing and close the day’s trade on a bullish note, then they may circulate bullish waves across the markets.&nbsp;
<a href="https://coinpedia.org/price-prediction/floki-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">FLOKI price</a> had held the ascending trend line as strong support ever since the token broke out of the consolidation in March. Unfortunately, the correction compelled the price to slice through the support and hit the bottom. However, the bulls have entered the ring and have eased the excessive bearish pressure, but to trigger a fine recovery, FLOKI is required to record another 20% rise in the next 24 hours.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXenobX3h0lGmXbYyQYfVc96B22R9hrXsIQVLpkwsJ6nl37isVmf_gAdf6Cc0mrR6XPq6qFmUrTl7IhLWuijoq_puzbkkZ_QWMAwi2uixtk51_kObHzfRlMtnZd5-mnHAjwO2j7gUqugRGZJpdqPGQkRkPJN?key=4UCm44gnXL3ZPCtNrEPV8w" alt="">
</figure>
The FLOKI price plunged below the ascending trend line and after testing the lower support at $0.0001612, the trend reversed. The MACD displays a drop in the selling pressure, which may further encourage a bullish crossover. Besides, the DMI is heading to flash a buy signal while ADX remains along the upper range. However, the buying volume is below the required levels, which may be a matter of concern.&nbsp;
The next 24 hours of trade are extremely crucial for the price rally, as a drop in the buying pressure may invalidate the bullish trajectory. This could either compel the price to remain consolidated within a range or else push back the token toward the crucial support at $0.00001. Therefore, the bulls are required to shift their focus towards FLOKI and increase the buying pressure over the token, which may assist the rally to reclaim the levels above the crucial ascending support.&nbsp;

FLOKI Price Triggers a Strong Recovery: A 20% Rise May Invalidate the Bearish Narrative

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