Top analyst Sjuul from AltCryptoGems recently shared on X (formerly Twitter) that FLOKI’s price is in trouble after losing an important support level. We examine the details and key levels traders should watch.
FLOKI Trades Below Support
FLOKI's price has dropped below a previously established support level, placing it in a 'No Man’s Land'. This region is marked by a lack of clear support or resistance levels, leaving the asset vulnerable to further downward movement or unpredictable swings.
FLOKI Chart Analysis: Key Levels
The chart analysis identifies critical levels that traders are watching. The 'Daily Demand Zone' near the bottom is seen as a potential area where buying interest could emerge, leading to a price bounce. Conversely, failing to hold above this zone could trigger further declines. The analysis also marks a mid-range level that splits the trading range into upper and lower halves, with current price activity concentrated in the weaker lower section.
Insights from AltCryptoGems’ Tweet
Sjuul from AltCryptoGems highlighted the precarious position of FLOKI in a recent tweet. He noted that the loss of the support level leaves the asset in a challenging situation, advising traders to wait for clearer signals. Potential strategies include waiting for a reclaim of the lost support level or observing a dip into the demand zone before making trading decisions.
FLOKI's price is in a precarious position after losing support, with traders watching to see if the asset can reclaim support or find strength in the demand zone. Caution remains the prevailing sentiment among market participants.
