FLOKI Inu Price Tests Critical Resistance, Could Pull Back or Breakout

The post FLOKI Inu Price Tests Critical Resistance, Could Pull Back or Breakout appeared on BitcoinEthereumNews.com.

This sell wall has the potential to halt the token’s bullish momentum, with a break above it required for further upside movement. Market sentiment, volume, and price action will play key roles in determining the next move, making it essential for investors to monitor closely for a breakout or rejection. FLOKI is currently facing a crucial resistance level at $0.000107, according to the analysis by CW. Meanwhile, analyst Phoenix suggests that despite losing a key high-timeframe support zone, its broader outlook remains positive. The price dip is seen as a temporary pullback, with expectations of a higher low forming in the near term. This could set the stage for a potential bullish recovery as market sentiment shifts, positioning it for a higher high once consolidation concludes. FLOKI Crypto Resistance Level at $0.000107 The chart shared by CW reveals that the asset is currently testing a significant sell wall at $0.000107. The current price action and volume trends suggest that the market is awaiting a decisive move. FLOKIUSDT 4-Hr Chart | Source:x A break above $0.000107 would likely set the stage for further gains, but a rejection at this level could lead to a pullback toward support zones. The critical support levels near $0.0000890 have held up well in the past, which could provide a safety net for the price if it fails to break through the resistance. Volume and Market Sentiment Analysis In addition to the price action, volume plays an important role in determining the strength of the move. As the price approaches the resistance at $0.000107, the volume data suggests that buying interest is beginning to taper off. A significant volume spike was observed earlier, but it has since slowed down. This reduction in trading activity could signal a temporary plateau in momentum, which might cause a consolidation…