FLOKI price has seen an impressive surge, up 21.79% in the past 24 hours and up 62.39% in the past week. This upward momentum has pushed a number of important indexes into optimistic territory, showing strong upward momentum.
However, caution is needed as some signals indicate that the current trend may encounter resistance or that a correction may occur. The coming days will be crucial to determine whether FLOKI can maintain its upward momentum, or a correction is possible.
The RSI shows that FLOKI is currently overbought
The recent rally in FLOKI price has pushed the RSI to 71.42, from 60 just a day ago, indicating strong buying momentum. An RSI above 70 frequently indicates that an asset is overbought, suggesting the possibility of a correction.
However, this does not always mean an immediate correction.
RSI is a momentum indicator that measures whether an asset is overbought or oversold. Values above 70 are considered overbought and below 30 are considered oversold.
Although FLOKI’s RSI is currently in overbought territory, at one point in history the index crossed 80 before correcting, hinting that the upward momentum could continue.
Ichimoku Cloud shows an Optimistic trend for FLOKI
The Ichimoku Cloud chart for FLOKI shows clear bullish momentum. The price is above the cloud, showing a strong uptrend.
Leading band A (blue line) is above leading band B (red line), reinforcing the optimistic outlook, while the cloud itself is in a positive profile.
Additionally, the price is also higher than the Tenkan-sen (blue line) and Kijun-sen (orange line), which further confirms the bullish momentum. However, a slight sign of a correction can be seen, suggesting that FLOKI may encounter some period of consolidation or correction before deciding on its next move. As long as the price remains above the cloud, the uptrend is very likely to continue.
FLOKI price prediction: New 57% increase?
FLOKI’s EMA is currently showing a very bullish profile, with price trading above it all. This growth has solidified FLOKI’s position as the 6th largest Meme Coin Coin on the market.
This points to a strong upward momentum. If this bullish momentum continues, FLOKI price could reach $0.00031, with the next resistance at $0.000349, representing a possible 57% price increase from current levels.
However, if the uptrend does not hold and turns around, FLOKI could face a significant price decline. Important support levels lie at $0.00016 and possibly as low as $0.00012, which could indicate a correction of around 45%.
