FLOKI/USDT entered a bearish trend after peaking at 0.0001747 USDT. Since then, the price has started a corrective movement, breaking below the exponential moving averages (EMAs) and entering a descending channel.
Although the indicators are showing weakness in the selling pressure, there are no clear signs of a reversal yet.
To initiate a bearish trend reversal, the price would need to break the dynamic resistance of the descending trendline and sustain above the EMA Ribbon. A break above 0.00014884 USDT would be an important signal that buying pressure is returning to the market.
In addition, the MACD would need to cross upwards and the Stochastic RSI would need to enter the overbought zone to confirm a trend change.
Let's wait for the next few hours.
Supports: 0.0001253 / 0.0001174
Resistances: 0.0001398 / 0.0001448
Although the indicators are showing weakness in the selling pressure, there are no clear signs of a reversal yet.
To initiate a bearish trend reversal, the price would need to break the dynamic resistance of the descending trendline and sustain above the EMA Ribbon. A break above 0.00014884 USDT would be an important signal that buying pressure is returning to the market.
In addition, the MACD would need to cross upwards and the Stochastic RSI would need to enter the overbought zone to confirm a trend change.
Let's wait for the next few hours.
Supports: 0.0001253 / 0.0001174
Resistances: 0.0001398 / 0.0001448
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.