Floki’s fate hangs on this key level – but the market is losing confidence

FLOKI encounters a significant resistance zone between 0.00008878 and 0.00010097, risking a bearish trend. The recent rally of 12% may not sustain as selling pressure grows.

In the last 48 hours, selling pressure intensified with $1.96 million FLOKI sold, resulting in five consecutive days of losses. A long-to-short ratio of 0.9654 indicates more selling than buying.

The liquidity issues are evident with only $114,050 liquidated in 24 hours, primarily from long traders. This low liquidity suggests a lack of interest, potentially leading to further declines in FLOKI’s price.