Summary
• Price dipped below $0.0000416 but found support near $0.0000413 during morning ET.
• Momentum weakened as RSI approached oversold levels, suggesting possible short-term bounce.
• Volatility contracted in the latter half of the day, indicating indecision or consolidation.
FLOKI/Tether (FLOKIUSDT) opened at $0.0000418, reached a high of $0.0000423, fell to a low of $0.0000409, and closed at $0.0000416 by 12:00 ET. The pair saw a 24-hour volume of ~3.68 billion USD and a turnover of ~$22.8 million.
Structure & Formations
Price action showed a bearish trend, with a key support forming between $0.0000413 and $0.0000415.
A bullish engulfing pattern appeared briefly in the morning, but it was quickly negated by a bearish continuation. A doji formed near $0.0000420, hinting at indecision.
Moving Averages
On the 5-minute chart, price remained below the 20-period and 50-period moving averages, reinforcing the bearish bias. Daily averages show
trading well beneath the 50, 100, and 200-day MAs, suggesting the downtrend remains intact.
MACD & RSI
The MACD remained in negative territory with a flattening histogram, indicating waning bearish momentum. RSI dropped to ~30 by the afternoon, approaching oversold territory and potentially setting the stage for a short-term rebound.
Bollinger Bands
Volatility remained relatively contained for much of the session, but a brief expansion occurred in the early morning before contracting again. Price closed near the lower band, reinforcing the bearish pressure but hinting at limited downside room.
Volume & Turnover
Volume spiked during the early morning ET, coinciding with the sharp selloff to $0.0000409. However, turnover failed to confirm this move with a meaningful increase, suggesting the selloff may have been driven by large block sales rather than broad market sentiment.
Fibonacci Retracements
Recent 5-minute swings suggest a potential bounce from the 38.2% Fibonacci level at $0.0000413, with the 61.8% level at $0.0000408 acting as a critical support area. A break below this could target $0.0000395 in the near term.
FLOKI appears to be in a consolidation phase following recent bearish momentum, with key support levels likely to be tested over the next 24 hours. Investors should remain cautious, as a sustained break below $0.0000410 could reignite the downtrend.
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