FLOKI's recent 20% pullback hit key support that eased its previous plunge. Will the trend repeat itself and trigger a likely recovery?
topped October’s performance charts again, November started off bumpy. They were the first casualty of de-risking ahead of a volatile U.S election week, withWe placed a Fibonacci retracement tool between July’s highs and August’s lows. Throughout October, the 78.6% Fib level has been a key short-term support. The next immediate support was April’s low, which stopped the intense August sell-off.
However, the higher high in daily active addresses suggested renewed market interest after a recent pre-election dip. This could be a build-up of demand that could trigger a likely reversal above the support levels mentioned on the price charts.
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