Floki Inu’s price may be on the verge of a correction, signalling a potential 20% decline. Investors eyeing FLOKI could anticipate a drop to $0.000216, presenting a buying opportunity at the $0.216 support level.
In recent trading sessions, Floki Inu’s price has shown a pattern similar to early March, where a bearish divergence emerged within one hour. This divergence occurred as FLOKI reached higher highs while momentum indicators indicated lower lows. Historically, such divergences have preceded corrections, as seen with a previous 48% downturn triggered by a similar pattern.
Should this correction occur, two key levels to watch are $0.000245 and $0.000216, representing potential declines of 12% and 22%, respectively, from the current price of $0.000278. If market conditions remain bullish overall, a dip to the second swing low could present a favourable buying opportunity.
However, investors should remain cautious, as premature rallies are possible, mainly if there is increased volatility in the crypto markets. Many altcoins are trading sideways, suggesting that the market may not be conducive to sustained uptrends.
A bullish scenario could unfold if Floki Inu’s price closes above the March 12 swing high of $0.000307, accompanied by a spike in the Relative Strength Index (RSI). In such a case, FLOKI could aim for a 14% rally to reach $0.000350.
