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Bittime - After briefly slipping in price, Floki Inu (FLOKI) in December and January, Floki (FLOKI) experienced an upward movement at the end of January. This initial slow rise turned into a rapid surge in the last ten days, with FLOKI reaching a striking 335% gain at its peak, but the rally may not be over yet.
Also read: What is FLOKI (FLOKI)? Get to Know This Memecoin Inspired by Elon Musk
Price of Floki Inu (FLOKI)
The following is the price of FLOKI/USDT according to the Bittime.com market when the article was written (04/03/2024) with an increase in the last 24 hours of more than +29% and also during the last 10 days there was a striking increase of +329%
Bullish Sentiment and Profit Potential?
Despite the recent decline, the 12-hour RSI retracement level reached 91 on March 4 signaling an extreme moment. When the Relative Strength Index (RSI) reaches level 91, it indicates that the asset has reached a high overbought condition.
RSI is a momentum oscillator that measures the speed and change in price movements.
Also Read What is the Relative Strength Index (RSI)
A reading of 91 indicates that the asset price has risen rapidly over a short period of time, and may experience a decline or correction. Traders often interpret RSI levels above 70 as overbought or overbuy conditions, which indicates a potential price reversal or decline.
Therefore, when the RSI reaches 91, traders may take it as a warning sign and exercise caution, possibly adjusting their trading strategy to account for a possible market correction.
Also Read How To Buy Crypto:
While a retracement is possible, it will not be immediate, making the shorting strategy risky.
- Profit-Taking Concerns : Recent price spikes have sparked increased activity.
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The conclusion
Floki's latest surge is impressive, but profit-taking signals are starting to emerge. Although a pullback is possible, the underlying sentiment remains bullish. Investors should carefully consider the risk-reward before entering or exiting a position.
How to Buy Floki (FLOKI) on Bittime
You can buy and sell Floki (FLOKI) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Floki (FLOKI) is available on Bittime with the market pair FLOKI/USDT . To be able to buy FLOKI USDT on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Floki (FLOKI) on Bittime .
Monitor price chart movements of Floki (FLOKI), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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