In the latest pre-halving meltdown, Floki’s volume decreased significantly and continued to correct lower. As a result, it lost almost 40% of its value in the last seven days, making it the current top loser in the market.

When Floki started to increase in late February, the price went through several resistance levels and entered this month on a strong note. However, the surge was accompanied by a slight pullback before pushing higher. 

After attracting more volume inflow in the first two weeks, it exploded and marked a new high at around $0.00031 last Thursday. A rejection occurred and the meme coin began to show signs of weakness. 

This led to a small correction to $0.0002 before witnessing a complete crackdown this week. Currently, it is priced at $0.000178 due to the latest bloodbath across the crypto space. 

Now that Floki’s supply outweighs demand, we can expect a broader correction in the next few days. And if that happens, we should see a new multi-week low near the psychological $0.0001 level that flipped earlier this month. 

As of now, there are no signs of buyers in the market. Once it finds a solid ground above the mentioned psychological level, we can expect a comeback. Failure to hold above that level may result in more dip until it finds support. Technically, Floki’s price is still trading within a bullish territory from a long-term perspective.

While it is yet to find solid ground, the potential support levels to consider for drops are $0.000148 and $0.00012. The lower level to watch for oversold price would be $0.0000915. 

The recent breakdown support of $0.0002 is now held as resistance. Far above this resistance lies $0.000223. A push above the monthly $0.00031 resistance should set the price for a bigger price movement.

Key Resistance Levels: $0.00020, $0.000223, $0.000257

Key Support Levels: $0.000148, $0.00012, $0.0000915

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any meme coins.

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