Floki Inu price needs to
shed 20% before it
becomes attractive for
buyers #BTC
Floki Inu price shows signs that suggest a potential correction could be around the corner.
Investors can expect FLOKI to lose 20% of its market value and retest $0.000216.
A sweep of the $0.216 support level could be a good place to buy the dip for sidelined buyers.
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$FLOKI Inu price needs to shed 20% before it becomes attractive for buyers
Floki Inu price shows signs that suggest a potential correction could be around the corner.
Investors can expect FLOKI to lose 20% of its market value and retest $0.000216.
A sweep of the $0.216 support level could be a good place to buy the dip for sidelined buyers.
Floki Inu (FLOKI) price has been climbing, but certain signs suggest that this steady uptrend might not be sustained. Instead, FLOKI could slide lower, allowing buyers to accumulate the meme coin.
Also read: FLOKI price yields over 200% weekly gains for traders, sees mass profit-taking from traders
Floki Inu price ponders a correction
Floki Inu price is forming a bearish divergence in the one-hour time frame, which is very similar to what occurred in early March. Between March 1 and 4, FLOKI set up higher highs, but the momentum indicators produced lower lows, signaling a divergence. Since the indicators show a decline in momentum, the meme coin eventually triggered a 48% correction.
This pullback swept the last key swing low at $0.000105 formed on March 2, which was a buy signal. Following this, Floki Inu price triggered a near-80% move in just 13 hours.
Considering the ongoing bearish divergence between the Floki Inu price and momentum indicators, history is likely to repeat. Hence, investors can expect the meme coin to kickstart another correction. There are two key swing lows – $0.000245 and $0.000216. The first target is roughly 12% away, and the second is 22% away from the current price of $0.000278. #HotTrends $BTC
