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- FLOKI sellers dominate the market as the price reaches a 30-day low.
- MACD indicates a bearish trend for FLOKI.
- Bollinger bands suggest a lack of buyer interest could lead to a downward trajectory.
Following its listing on PointPay on April 21st, FLOKI (FLOKI) bulls were unable to surpass the 24-hour peak of $0.0000309. As a result of this setback, sellers took control of the FLOKI market, driving the price down to a 30-day low of $0.00002698.
BREAKING : #FLOKI cryptocurrency has been successfully listed on PointPay and is already available to all users!
Now you can trade @RealFlokiInu on the PointPay exchange. Explore new opportunities and enjoy FLOKI tokens at PointPay! pic.twitter.com/Zu3VWoER75— Floki News (@Alardax1) April 21, 2023
At the time of reporting, FLOKI was trading at $0.00002843, reflecting a 7.10% decline indicative of the market’s ongoing negative sentiment.
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During this downturn, market capitalization and 24-hour trading volume decreased by 7.40% and 21.56%, respectively, settling at $274,849,814 and $18,000,674. This decline highlights the market’s volatility and instability amid the downturn, which has diminished trading activity and investor confidence.
FLOKI/USD 1-day price chart (source: CoinMarketCap)
The Bollinger bands are trending downward on the FLOKI price chart, with the upper band at 0.0000353780 and the lower band at 0.0000266349. This movement, coupled with reduced trading volume, may suggest a lack of buyer interest and a shift in sentiment towards selling, potentially contributing to the downward trend.
The price action is moving away from the lower band, forming green candlesticks, indicating that bulls might consider purchasing at these lower levels to counteract the negative trend.
With a value of -0.0000020487, the Moving Average Convergence Divergence (MACD) has fallen into negative territory below its signal line, reinforcing the bearish sentiment. This downward trend and the histogram’s increasing red bars indicate that FLOKI’s bearish momentum is intensifying. Investors may want to consider reducing their exposure or implementing risk management strategies to protect their holdings.
