• Floki Inu Price Prediction: FLOKI Will Increase By 44% To $0.0002350

  • The price of Floki Inu is currently trading at $0.0001655 with a bearish bias, under immense pressure from the upper boundary of the descending channel and the 100-period simple moving average (SMA) around $0.0001750. FLOKI bulls are attempting to break out of the descending channel but are meeting stiff resistance on the way up.

    The price of a Floki Inu could rise to $0.0002350.

    After successfully bouncing off the $0.0001227 embraced by the middle boundary of the falling parallel channel, Floki Inu (FLOKI) is on the mend. FLOKI price rose to a high of $0.0001760 before being rejected by the 100 SMA at around $0.0001750.

    This was a 45 percent increase that saw the Floki Inu price flip from resistance to support at the 50 SMA. FLOKI is currently facing significant resistance from the upper boundary of the descending channel at $0.000169 and the 10 SMA at $0.0001750.

    If the price of Floki Inu rises above this level, it may retest the resistance from the 200 SMA, which is currently at $0.0002171.

    If FLOKI bulls overcome the resistance at the mentioned level, the meme coin could reach the November 19 range high around $0.0002350, representing a 44 percent increase from the current price.

    Four-Hour FLOKI/USDT Chart

    The Moving Average Convergence Divergence (MACD) indicator is moving upward and has just crossed the zero line into the positive region, emphasizing the positive outlook.

    Taking A Look Over The Fence

    It is worth noting that the Relative Strength Index (RSI) is showing a negative divergence as it moves away from the overbought region. This indicates that the bears have not given up on bringing the price of Floki Inu down.

    As a result, failure to hold above the 50 SMA will result in massive sell orders, causing FLOKI to fall to the middle boundary of the governing chart pattern at the $0.00010 psychological level.

    A further drop could take Floki Inu to the psychological level of $0.000050 or to the target of the descending parallel channel at $0.000037.

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