Crypto
FLOKI's Price Plunge: Bears Take Control as Macro Deteriorates
FLOKI is facing significant challenges as it struggles to maintain its price above $0.00002544-$0.00002558, after a 30%+ weekly surge that has now evaporated.
The token's chart is showing signs of uncertainty, with the RSI sitting at 56.37 and momentum having flattened right at the worst possible price point.
The 200-day SMA at $0.0000270-$0.0000271 is crucial for FLOKI's technical reclaim, but a daily close below $0.0000265 on conviction volume would end the breakout narrative immediately.
The broader market context is not conducive to risk continuation, with Bitcoin trading around $77,600-$77,800 and the Crypto Fear & Greed Index slipping from 73 to 68.