FLOKI’s next move hinges on THIS bearish pattern – Here’s what to watch
Main Idea
FLOKI's recent Robinhood listing boosted its market position, but bearish patterns, exchange inflows, and liquidations indicate potential volatility ahead.
Key Points
1. FLOKI gained 6% on August 13, ranking as the eighth-largest memecoin with a $1.12 billion market cap.
2. The Robinhood listing was seen as a 'huge step forward,' increasing accessibility for traders.
3. FLOKI dropped 9% on August 12, failing to sustain the 50% Fibonacci level and heading toward the 61.8% level.
4. Over $1.16 million worth of FLOKI moved into exchanges in 24 hours, signaling potential downside momentum.
5. Liquidations totaled $68.09K, with long positions ($47.46K) outweighing shorts ($20.63K).
Description
FLOKI’s Robinhood debut fuels optimism, yet THESE keep traders cautious on near-term moves.
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