FLOKI Cryptocurrency Shows Significant Upside Signals After Going Through a Period of Consolidation

Jakarta, pintunews.com – In the coming days, FLOKI cryptocurrency is showing interesting upside signals as it continues to move in a unique pattern. After going through a period of consolidation, there are several price zones that market participants need to pay attention to. This analysis will further decompose FLOKI’s potential rally and the factors that support it.

FLOKI’s Unexpected Rise

Having been in decline since mid-December, FLOKI is now showing signs of recovery. The price increase was driven by a significant increase in demand, as seen from the On-Balance Volume (OBV) indicator, which broke through the local peak formed in February and failed to be tested again in April. In addition, the Chaikin Money Flow (CMF) also showed values above +0.05, signaling strong capital flows into the market.

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Technical Analysis: A Bullish Breaker Zone

The price action analysis showed that FLOKI formed a bullish order block at $0.0000695, which was the lower high formed in March. This area, highlighted in cyan, was successfully broken in April and almost retested as a demand zone. The breakout changed the market perception from bearish to bullish. With this bullish structure, it is likely that FLOKI will next target the 61.8% Fibonacci retracement level of the November rally.

Liquidation Heatmap: Inviting Buyer Interest

The three-month liquidation heatmap showed an accumulation of liquidation levels around the $0.000107 area, which was the peak in February. This zone has managed to pull the price upwards. Meanwhile, the one-week liquidation heatmap showed liquidity clusters in the $0.0001 and $0.000092-$0.000095 areas that may be explored in the coming days. A drop to these levels is expected to trigger a bullish reaction from the market.

The Effect of Bitcoin (BTC) on FLOKI

Although FLOKI showed independence in its movement, it is still important to pay attention to the price movement of Bitcoin (BTC). The bearish trend of Bitcoin (BTC) could negatively impact FLOKI. Therefore, investors and traders should remain aware of Bitcoin (BTC) market dynamics when considering an investment in FLOKI.

Investment Opportunities in FLOKI

Taking all these factors into account, FLOKI presents an interesting opportunity for investors and traders seeking potential gains in the short term. However, it is crucial to stay informed of external variables such as Bitcoin (BTC) market trends, which can influence all crypto assets.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

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