Summary
• FLOKI/Tether surged toward $0.0000505 on 5-minute chart before consolidating.
• Momentum shows mixed signals with overbought RSI and diverging volume.
• Volatility expanded mid-day, with key resistance at $0.0000505 and support near $0.0000492.
• Price action suggests potential for a pullback or
of prior levels.
• Bollinger Bands indicate a potential reversal after extended expansion.
FLOKI/Tether (FLOKIUSDT) opened at $0.00004958 on 5-minute chart at 12:00 ET − 1, surged to a high of $0.00005082, dipped to a low of $0.00004920, and closed at $0.00005063 at 12:00 ET. Total 24-hour volume was $3.26 billion, with $163.8 million in turnover.
Structure & Formations
Price tested key resistance at $0.0000505, previously acting as a ceiling during the rally, but failed to close above it. Support at $0.0000492 appears to have held during a brief pullback. A bullish engulfing pattern formed during the 21:00–21:15 ET time frame, suggesting potential for a short-term reversal. A long-legged doji appeared at 02:30–02:45 ET, indicating indecision in buyers and sellers.
Moving Averages
On the 5-minute chart, FLOKI/Tether closed above both the 20-period and 50-period moving averages, indicating a short-term bullish bias. However, the 50-period line appears to act as a resistance level. On the daily chart, the price is above the 50-period MA but below the 200-period MA, suggesting a mixed near-term outlook.
Momentum Indicators
The RSI reached overbought territory (above 70) during the afternoon surge, indicating potential for a retracement. MACD showed a positive crossover earlier in the session, reinforcing bullish momentum, but has since flattened, suggesting weakening buying pressure.
Volatility and Bollinger Bands
Volatility expanded significantly in the early evening as price broke above key resistance. Price spent much of the session outside the upper Bollinger Band, suggesting a period of high volatility. A contraction in band width during the overnight session may suggest a potential reversal setup.
Volume and Turnover
Volume surged during the early push to $0.0000505, with the most active 5-minute interval at 21:00–21:15 ET, where over $143.6 million in turnover occurred. However, volume declined during the afternoon, indicating a possible lack of conviction in the recent rally. A divergence between price and volume during the late morning suggests weakening momentum.
FLOKI/Tether may test $0.0000505 and $0.0000492 in the coming session as key levels. Traders should watch for a potential reversal if volume fails to confirm further gains. As always, market volatility remains high, and risks should be carefully managed.
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