There’s more to FLOKI’s 4% price rise than meets the eye

• Positive sentiment regarding FLOKI remained high.
• Market indicators turned bearish on meme coins.

Floki Inu (Floki) The 15-minute price chart marked a bullish signal as the meme coin price broke the resistance level. The uptrend indicated that its value could once again reach $0.00025447.

So, AMBCrypto checked FLOKI metrics to know what to expect.

FLOKI conquers a resistance zone

AMBCrypto analysis via Sentiment revealed that FLOKI’s whale transaction numbers have increased rapidly in recent days. Although at first glance this may seem optimistic, in reality the scenario was quite the opposite.

Notably, the exchange flow of meme coins skyrocketed during that time. This clearly meant that big players in the crypto sector were dumping FLOKI.

Increasing selling pressure usually ends an asset’s rally. Furthermore, its MVRV ratio has fallen sharply in recent days, which was also a bearish signal.

Despite the bearish metrics, positive sentiment around FLOKI increased several times last week, reflecting investor confidence. This may play an additional role in FLOKI’s recent bullish action.

According coinmarketcapIn the last few hours alone, the value of the meme coin increased by more than 4%, making it surpass the above resistance level.

At press time, the meme coin was trading at $0.0002494, with a market capitalization of over $2.38 billion, making it the 55th largest cryptocurrency.

To understand whether investor confidence in FLOKI will translate into a sustained bullish rally, AMBCrypto took a look at its daily chart.

Our analysis showed that most of FLOKI’s indicators were falling at the time of this publication. Notably, MACD showed a bearish crossover.

Realistic or not, it’s here FLOKI’s market capitalization in terms of BTC

The Relative Strength Index (RSI) also remained sideways, suggesting that investors can expect slow momentum for a few days. Similarly, Bollinger Bands revealed that FLOKI price was in a less volatile zone.

Therefore, the likelihood of an unprecedented rally to the north seemed unlikely in the near term.

This is an automatic translation of our English version.