• Floki Inu Inu price is retracing to the $0.000121 to $0.000150 demand zone for the second time over the past four days.
  • A dip into this area will likely renew the bullish momentum, triggering a 48% surge in market value to $0.000221.
  • A breakdown of the $0.000121 support level will invalidate the bullish thesis.

Floki Inu price is undergoing a pullback after failing to clear a crucial resistance barrier. This downswing will push the meme coin into a vital demand zone that could trigger a new uptrend’s start.

Floki Inu price to reverse its bearish outlook

Floki Inu price set up its all-time high at $0.000405 on November 4 after rallying 587% in just over a week. Many investors continued to book profits here, leading to a slow consolidative downtrend. On November 15, FLOKI dropped below the $0.000221 support floor and has crashed 30% to where it currently trades - $0.000160.

Interestingly, a demand zone, ranging from $0.000121 to $0.000150, has come into view to save it from a steeper descent. A dip into this area will replenish buying and lead to a potential upswing.

To the upside, the $0.000179 comes in as the first barrier Floki Inu price will encounter. Clearing this level will confirm the uptrend and propel FLOKI to the next level at $0.000221. In total, this leg-up would constitute a 48% gain from $0.000121.

FLOKI/USDT 4-hour chart

FLOKI/USDT 4-hour chart

Investors need to note that the bullish scenario above assumes that Floki Inu price bounces off the $0.000121 to $0.000150 demand zone. A failure to hold above this barrier and an increased sell-side pressure that results in a 4-hour candlestick close below $0.000121 will create a lower low and invalidate the bullish thesis.

In this scenario, market participants can expect Floki Inu price to crash to $0.0000833.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

LUNA 2.0 price is primed for 60% rally

LUNA 2.0 price is primed for 60% rally

LUNA price breached the range it was trading in and crashed violently in June. However, buyers seem to be making a comeback, suggesting that a recovery rally is in effect. The ongoing retracement hints at a 60% upswing to $3.50.

More Terra news

How trade SafeMoon price for a quick profit?

How trade SafeMoon price for a quick profit?

SafeMoon price gets ready for a quick run-up amid a bearish challenge. As a result, SAFEMOON has been consolidating below a crucial resistance barrier. Investors can expect the altcoin to resume its run-up soon.

More SafeMoon news

ApeCoin price edges near a critical level, is the uptrend genuine?

ApeCoin price edges near a critical level, is the uptrend genuine?

ApeCoin price shows compression of two Simple Moving Averages as price consolidates. APE price shows bullish re-entrance on the Volume Profile pattern, but traders should steer away from being early buyers. Invalidation of the bear trend remains at $6.15.

More ApeCoin news

Cardano Price Prediction: Can the release of Node 1.35 trigger a 40% rally

Cardano Price Prediction: Can the release of Node 1.35 trigger a 40% rally

Cardano price seems to be preparing for massive gains as Vasil hard fork takes one step closer to becoming a reality. In a recent Twitter thread, IOHK, the developers behind Cardano announced the launch of Cardano node 1.35.0 on June 25.

More Cardano news

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis