FLOKI’s future open interest is climbing despite the recent price weakness.
RSI remains weak, suggesting bearish to neutral short-term market momentum.
Floki Inu ($FLOKI) is showing resilience as it hovers above a critical support zone. The token recently saw increased market activity, with weekly gains pointing to growing bullish interest.
According to analyst Crypto Tony, FLOKI is currently retesting a key support level around $0.00021. This area, which previously acted as a resistance, is now serving as a demand zone.
A sustained hold at this level could support a bullish continuation into Q3 2025. Tony confirmed he remains in an extended position, suggesting confidence in the level holding.
The token broke out of a rising wedge pattern in late 2023, triggering a rally through early 2024. Since then, it has moved within a range capped by resistance at $0.00031 and supported near $0.00021.
Technical traders are watching for confirmation signals at this support level. A bounce may trigger a new upward leg, while a breakdown could prompt deeper retracement.
Rising Futures Open Interest Reflects Cautious Optimism
Data from CoinGlass shows a rising trend in FLOKI futures open interest since April 2025. Open interest now holds above $10 million, following previous peaks near $60 million in mid-2023 and December 2023. Analysts note that higher open interest often reflects growing trader involvement and potential bullish sentiment.
Floki Futures Open Interest Source: Coinglass
The chart indicates that while price remained flat in May and June 2025, open interest increased. This could signal accumulation or strategic hedging rather than immediate price speculation.
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The correlation between price and futures positions is a potential indicator of market confidence. However, traders are still waiting for a clear breakout before increasing their long exposure.
Short-Term Weakness Persists Despite Bounce From Local Low
FLOKI is trading at $0.00007164, down 3.57% in the last 24 hours. The token bounced after reaching a local low of $0.00006600, showing signs of bottoming. Volume rose to 112.47 billion during this dip, pointing to increased interest.
FLOKI/USDT 1-Day Price Chart Source: TradingView
Despite the volume surge, the RSI remains weak at 42.18, with a moving average at 39.90. Analysts view this as a bearish to neutral signal. The $0.00008000 level, once support, now acts as resistance.
However, if FLOKI breaks above $0.00007400, bullish momentum may resume. Otherwise, failure to hold $0.00007000 could open the door for further downside.
