FLOKI, the popular meme coin, has seen a notable 12% surge in the past 24 hours, sparking optimism among investors. However, its efforts to maintain momentum are being challenged by selling pressure from short-term holders (STHs) eager to cash in on profits.
🐻 Short-Term Investors Eyeing Profit-Taking
According to on-chain data, FLOKI’s MVRV Long/Short Difference currently sits at a deeply negative -40%, signaling that short-term holders are sitting on gains. Historically, these investors tend to sell at the first sign of profit, often triggering sudden price drops.
This heavy selling pressure poses a real threat to FLOKI’s recovery. Without new buyers willing to step in, the coin may struggle to break key resistance levels and could fall back into a bearish trend.
📉 Market Momentum Remains Weak
Technical indicators aren’t helping the case either. The Relative Strength Index (RSI) for FLOKI has bounced slightly from oversold levels but remains below the neutral 50 mark, reflecting weak market momentum.
Until RSI moves above 50, bulls are unlikely to take control. The current lack of strong market signals makes FLOKI vulnerable to further pullbacks.
📊 Price Consolidation Likely Without Investor Support
FLOKI is currently trading around $0.00007121, trying to flip the resistance at $0.00007132 into support. However, this level has proven difficult to break, and without strong investor confidence, it may continue trading between $0.00007132 and $0.00005903 in the short term.
While holding above resistance would be a positive sign, FLOKI needs broader market participation to spark a sustained rally.
🐂 What Could Trigger a Bullish Breakout?
To invalidate the current bearish outlook, FLOKI must break past two key resistance levels:
$0.00009357
$0.00011036
A successful breakout above these levels would confirm a new bullish trend, but it requires stronger investor backing and a more favorable market environment.
🔍 Summary: FLOKI on the Edge
Despite recent gains, short-term selling pressure continues to cast a shadow over FLOKI’s potential. If it manages to maintain momentum and attract fresh investors, it could transition into a breakout rally.
Until then, uncertainty prevails, with the coin walking a fine line between recovery and reversal.
🧠 Fun fact: FLOKI has quickly become one of the most-watched meme coins in the crypto space. Its recent moves are now catching the attention of not only retail traders but also large whale wallets. Will this be FLOKI’s breakout moment, or just another wave of short-lived hype?
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