FLOKI Price Rises 6% on Robinhood Listing Amid Bearish Technical Signals

FLOKI’s recent performance has shown a mixed bag of bullish and bearish signals, with its price rising 6% as of August 13 following its listing on Robinhood. The memecoin currently ranks eighth among its peers with a market capitalization of $1.12 billion, trailing behind TRUMP and SPX6900. The Floki team described the Robinhood listing as a “huge step forward,” citing access to 25 million retail investors as a significant development [1].

Despite this positive catalyst, the price of FLOKI dropped 9% on August 12, settling at $0.00001069. During the same 24-hour period, trading volume rose by 51% according to CoinMarketCap, reflecting heightened market interest [1]. However, the asset failed to hold the 50% Fibonacci retracement level and is now approaching the critical 61.8% level. AMBCrypto analysts suggest that if FLOKI breaks below $0.00001055, it could see another 10% decline, potentially reaching the key support level of $0.000009746. A bearish inverted flag and pole pattern also appears to be forming, further reinforcing the downward bias [1].

On-chain activity points to increased selling pressure. Over $1.16 million in FLOKI tokens have moved into exchanges in the past 24 hours, suggesting that holders may be preparing to offload their assets [1]. CoinGlass data also highlights $68.09K in liquidations, with long positions accounting for $47.46K of that total. Liquidation clusters are observed at $0.0001051 (lower) and $0.0001143 (upper), suggesting the potential for sharp price movements should either level be breached [1].

Technical indicators remain mixed. The RSI is currently at 46, placing the asset in neutral territory without clear overbought or oversold conditions. Meanwhile, the Supertrend indicator remains red, signaling ongoing bearish momentum [1].

Bitget has released a price forecast for FLOKI, projecting a daily growth rate of +0.014% over the next 10 days [2]. While this suggests a slight upward bias in the short term, it is important to note that such projections should be interpreted in the context of prevailing bearish technical and on-chain signals.

The broader market environment also sees growing interest in alternative crypto investment vehicles, such as crypto treasuries and exchange-traded products (ETPs), particularly in markets where traditional crypto products are not yet available [3].

Source: [1] FLOKI’s next move hinges on THIS bearish pattern – Here’s what to watch (https://ambcrypto.com/flokis-next-move-hinges-on-this-bearish-pattern-heres-what-to-watch/)

[2] FLOKI(FLOKI) Price prediction (https://www.bitget.com/price/floki/price-prediction)

[3] Crypto Treasuries vs. Crypto ETPs — Which Is the Smarter (https://www.binance.com/en/square/post/28190122718889)