FLOKI is attempting to retest the neckline of its double-top pattern, with a successful breakout set to trigger the resumption of bullish trends.
The $0.000166 to $0.000172 price zone could attract demand from new buyers who believe it to be an ideal entry point.has recovered from bearish trends, gaining 9% in the last 24 hours and trading at $0.000188 at press time. These gains mirrored a broader market recovery, with total crypto market capitalization increasing by 3.6% to over $3.4 trillion.
If FLOKI continues its uptrend, it will likely retest the neckline from below. If a breakout fails, the downtrend could resume, causing a dip to $0.000124. FLOKI has been trading above the 200-day SMA since mid-November. Going by past trends, this level has often acted as a strong resistance. If FLOKI drops below $0.000166, it could cause a negative market sentiment.Many traders bought FLOKI between $0.000166 and $0.000172. According to IntoTheBlock data, 137 billion FLOKI tokens were purchased by 1,420 addresses at these price levels.
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