When writing, the FLOKI coin revived over 30% and crossed the significant moving averages with a sharp upward move.
After a consistent decline and V-shaped rejection from the $0.0003000, the coin took support near the 200-day EMA mark and settled there.
Amidst the market recovery, a reversal from a bottom mark of $0.0001500 and a weekly range breakout was spotted, and the memecoin has gained traction this week.
However, a sectoral shift in the memecoins noted after a significant profit booking from the highs. A majority of top-performing coins, such as PEPE, BONK, and FLOKI, have triggered the reversal in the last few sessions.
The Dog-themed asset, FLOKI coin, has shown a follow-on recovery and attempted to sustain beyond the cluster of $0.0002000. That stood as the make-or-break region for the sellers.
The sellers would trapped if the intraday close is exhibited beyond that level. Short covering moves might be experienced ahead.
A decisive break and close above the $
We współpracy z: https://www.thecoinrepublic.com/2024/07/16/floki-revived-25-from-the-demand-zone-is-this-a-bear-trap/
