FLOKI Is Predicted To Slum Because Of This!

FLOKI is predicted to decline (Photo; Doc. Coinex)

JAKARTA - Floki Inu (FLOKI), one of the popular meme coins, recently experienced significant fluctuations. Over the past month, FLOKI has been moving in upflow channels (asscending channels), but the ability to penetrate major resistance levels is still being questioned. In the last 24 hours, FLOKI has decreased by 3.53%, while weekly it has fallen 0.08%. However, monthly, this coin still recorded a 14.59% increase. Is FLOKI able to recover from this bearish trend? Recent analysis shows that big challenges are still waiting.

One of the key factors affecting FLOKI movement is its reaction to the demand zone in the 4-hour graph. Despite entering the zone, FLOKI's price response tends to be sluggish, with no sign of a strong rebound that is usually seen at this level. It is possible that FLOKI will continue to decline, it could even decay deeper into the mid-zone range of demand, which is between 0.0001505 US Dollars (Rp2.35) and 0.00014377 US Dollars (Rp2.24).

According to Ambcrypto's information, if this demand zone is able to survive, FLOKI may be able to rise again to the resistance level at 0.00.16339 US Dollars (Rp2.55) level which led to a sharp decline before. With sufficient buying pressure, this coin could potentially penetrate the resistance and continue the upward trend beyond the existing canal limits. However, if the demand zone fails to withstand selling pressure, FLOKI could fall further to the level of 0.00.13826 US Dollars (Rp2.16). The decline below this level will confirm the continuation of movement in the rising canal that has been going on for the past month.

Recent trading activities also reflect bearish sentiment among traders. Parabolic SAR indicators, which use points to track the direction of prices, are currently showing points above FLOKI prices, indicating a downward trend. In addition, the decreasing flow of Chaikin money (Chaikin Money Flow) shows the flow of liquidity from this asset, indicating an increasing selling pressure.

Data from the Coininglass platform also supports this view, with a sharp decline in Open Interest (OI) of 7.57%, now at $19.83 million (IDR297.5 billion). The decline in OI shows that the more short positions opened by traders, who are betting on further price drops.

Overall, current market trends lead to a potential for further decline before the chance of a reversal to a bullish trend. Even so, if the buying pressure increases and the demand zone is able to withstand the decline, FLOKI can again approach its critical resistance level. However, without a strong signal for an increase, the risk of a decrease remains high.