Market

Is Meme Coin Season Back? FLOKI Price Is Up In The Last 7 Days

Published

4 months ago

September 24, 2024

Coin2049 Newsletter

FLOKI’s price has surged 287.29% over the past year and nearly 15% in the past seven days, making it the fifth-largest meme coin on the market. While its 7-day Relative Strength Index (RSI) remains neutral, the coin shows strong potential for further growth.

Additionally, the FLOKI Ichimoku Clouds indicate a bullish outlook for the coming weeks, suggesting the possibility of more price increases.

FLOKI RSI Reflects Neutral Momentum, but Room for Growth Remains

The 7-day RSI for FLOKI is currently at 51, indicating neutral price momentum over the past week. The RSI measures the speed and magnitude of recent price changes, operating on a scale from 0 to 100.

When the RSI reads above 70, it suggests that buyers have pushed the asset into overbought territory, which could lead to a price correction. On the other hand, when the RSI falls below 30, it indicates that sellers have oversold the asset, possibly making it undervalued and primed for a price recovery.

FLOKI 7D Relative Strength Index. Source: Santiment.

With an RSI of 51, FLOKI is sitting right near the midpoint of the scale, signaling a neutral stance. This level indicates that the buying and selling pressures are fairly balanced. In other words, neither bullish nor bearish sentiment is currently dominating the market.

While the price is not in a high-risk zone for being overbought or oversold, this could suggest that FLOKI has some room to grow in the next weeks.

Ichimoku Clouds Paint a Bullish Scenario

The Ichimoku Cloud on FLOKI’s 4-hour chart offers insight into the current price movement and market sentiment. This technical indicator highlights potential support and resistance levels, trend direction, and momentum.

Currently, FLOKI’s pric is sitting above the cloud, or Kumo, which signals a bullish market sentiment. Since the cloud is green, it suggests FLOKI is in an upward trend, and the cloud could provide support if the price dips back toward it.

The Tenkan-Sen (blue line), also called the Conversion Line, reflects short-term momentum, and its position above the Kijun-Sen (red line), the Base Line, indicates that bullish momentum is dominant. Typically, when the Tenkan-Sen crosses above the Kijun-Sen, it’s seen as a bullish signal, confirming the possibility of continued price growth.

FLOKI Ichimoku Clouds. Source: TradingView

Additionally, the Chikou Span (green line), or Lagging Line, is positioned above the current price, further reinforcing the bullish outlook. This line reflects where the current price stands in relation to past price action, and when it sits above the price, it indicates that momentum is still favoring buyers.

In summary, the Ichimoku Cloud on FLOKI’s 4-hour chart signals a positive trend. The alignment of the Tenkan-Sen and Kijun-Sen, along with the green cloud and Chikou Span, all suggest that FLOKI may continue its upward trajectory in the near term.

FLOKI Price Prediction: Can It Double From Here?

FLOKI is approaching a critical resistance level around $0.0001651, a key area that has historically posed challenges for the token. If FLOKI manages to break through this resistance, it could signal a stronger bullish move, potentially driving the price toward $0.00034, its highest value since June 2024.

Such a breakout would indicate a major trend reversal, highlighting strong buying momentum and reinforcing the meme coin’s relevance in the Ethereum ecosystem.

On the downside, if FLOKI fails to hold its immediate support at $0.00011, there is a risk of further decline. The next support level is around $0.00009, which might offer temporary relief. However, if bearish pressure persists, FLOKI could drop to $0.000031, marking its lowest point since March 2024.

In summary, FLOKI appears to be at a pivotal moment. A break above $0.0001651 could open the door to further gains and strengthen its position as a leading meme coin, while failure to maintain support at $0.00011 could result in a steep decline, potentially revisiting early 2024 lows.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Source link

Related Topics:Coin days FLOKI Meme Price Season

Up Next

DOGS Airdrop Ends, Token Burn Coming Soon

Don't Miss

Dogwifhat (WIF) Price Headed for $2.70?

Click to comment

Market

Will It Smash Another ATH?

Published

22 minutes ago

January 22, 2025

Coin2049 Newsletter

Este artículo también está disponible en español.

Bitcoin price started a fresh increase above the $104,000 zone. BTC is consolidating above $105,000 and might aim for a new all-time high.

Bitcoin started a decent increase above the $102,500 resistance zone.
The price is trading above $104,500 and the 100 hourly Simple moving average.
There was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start another increase if it stays above the $103,500 support zone.

Bitcoin Price Regains Traction

Bitcoin price started a decent upward move above the $102,500 zone. BTC was able to climb above the $103,500 and $104,000 levels.

The bulls even pushed the price above the $105,000 level. Besides, there was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low.

Bitcoin price is now trading above $104,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $107,000 level. It is close to the 76.4% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low.

The first key resistance is near the $107,500 level. A clear move above the $107,500 resistance might send the price higher. The next key resistance could be $109,000.

A close above the $109,000 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level and a new all-time high. Any more gains might send the price toward the $112,500 level.

Downside Correction In BTC?

If Bitcoin fails to rise above the $107,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $104,500 level. The first major support is near the $103,500 level.

The next support is now near the $102,800 zone. Any more losses might send the price toward the $100,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $104,500, followed by $103,500.

Major Resistance Levels – $107,000 and $108,500.

Source link

Market

Trump’s $500 Billion Stargate Venture Sparks AI Crypto Boom

Published

1 hour ago

January 22, 2025

Coin2049 Newsletter

AI tokens surged on Wednesday after President Donald Trump unveiled a new joint venture to invest up to $500 billion in artificial intelligence infrastructure.

The partnership involves major players such as OpenAI, Oracle, and SoftBank and will form a new entity called Stargate.

Market Focuses on AI Coins as Trump’s Stargate Initiative Gains Traction

The Stargate Project will invest $500 billion over the next four years, building new AI infrastructure in the US. The venture will focus on developing crucial data centers and the electricity generation required to power the AI sector.

The announcement has already had a noticeable impact on the broader market, particularly in AI-related cryptocurrencies. Following the news, the market capitalization of AI tokens surged by 9%, reaching $45.83 billion at press time, according to CoinGecko.

In fact, the market cap of AI agent tokens alone rose by 13% to hit $14.9 billion.

AI agent tokens, such as Virtuals Protocol, AIXBT, and AI16Z, saw impressive gains. Virtuals Protocol rose by over 13% in the past 24 hours, while AI16Z experienced a remarkable 36% increase. AIXBT token rose by 27% over the same period.

The surge in AI tokens reflects a broader shift in market interest as investors move capital towards more “sentient” tokens.

“Capital is rotating back from static memes to sentient coins,” AI researcher S4mmy commented on Twitter.

The analyst added that Fartcoin and AIXBT are sustaining their “mindshare dominance,” but face declining market caps after a heated run. Commenting on Virtuals Protocol, he said it continues to solidify its position as a backbone of the Agentic infrastructure.

Moreover, analyst CyrilXBT said he believes “AI will create generational wealth in 2025.”

“People said Bitcoin was a joke. People said AI agents are a gimmick. Guess what else they’ll say? ‘Why didn’t I listen when generational wealth was staring me in the face?,” CyrilXBT commented.

The shift towards AI is particularly interesting, given the trend of investments a few days back. Capital was flowing into Donald Trump-related tokens, such as TRUMP and MELANIA, which have seen significant volatility.

However, BeInCrypto reported that smart money traders are now focusing on AI tokens after the hype around TRUMP faded. According to data from Nansen, a substantial amount of VIRTUAL, FARTCOIN, and AIXBT tokens are held by smart money.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Source link

Market

Will an Upside Break Spark a Surge?

Published

2 hours ago

January 22, 2025

Coin2049 Newsletter

Este artículo también está disponible en español.

Ethereum price is struggling below the $3,500 resistance while Bitcoin gains. ETH is consolidating above $3,150 and might aim for an upside break.

Ethereum failed to gain pace for a close above $3,400 and $3,450.
The price is trading above $3,300 and the 100-hourly Simple Moving Average.
There is a key contracting triangle forming with resistance at $3,355 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start another increase if it clears the $3,400 resistance level.

Ethereum Price Aims Key Upside Break

Ethereum price started a decent upward move from the $3,200 level but upsides were limited compared to Bitcoin. ETH cleared the $3,250 resistance to move into a short-term bullish zone.

The bulls were able to push the price above the $3,300 resistance zone. Besides, there was a clear move above the 50% Fib retracement level of the downward move from the $3,445 swing high to the $3,203 low. However, the bears are still active below $3,400.

Ethereum price is now trading above $3,300 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level or the 61.8% Fib retracement level of the downward move from the $3,445 swing high to the $3,203 low.

There is also a key contracting triangle forming with resistance at $3,355 on the hourly chart of ETH/USD. The first major resistance is near the $3,400 level. The main resistance is now forming near $3,445.

A clear move above the $3,445 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250.

A clear move below the $3,250 support might push the price toward the $3,200 support. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,200

Major Resistance Level – $3,400

Source link