FLOKI Hits 30-Day Low Despite PointPay Listing: Will Bulls Recover?

• FLOKI bears dominate the market as the price hits a 30-day low.
• MACD signals a bearish trend for FLOKI.
• Bollinger bands signal a lack of buyer interest may result in a downward trend.

Despite being listed on PointPay on April 21st, FLOKI (FLOKI) bulls could not break the 24-hour high of $0.0000309. Due to this failure, bears took control of the FLOKI market, effectively lowering the price to a 30-day low of $0.00002698.

BREAKING : #FLOKI cryptocurrency has been successfully listed on PointPay and is already available to all users!

Now you can trade @RealFlokiInu the PointPay exchange. Experience new possibilities and enjoy FLOKI tokens at PointPay! pic.twitter.com/Zu3VWoER75

— Floki News (@Alardax1) April 21, 2023

FLOKI was trading at $0.00002843 at press time, a 7.10% drop reflecting the market’s persistent gloomy mood.

During the recession, market capitalization and 24-hour trading volume fell 7.40% and 21.56%, respectively, to $274,849,814 and $18,000,674. This drop illustrates the market’s volatility and instability due to the recession, which has lowered trading activity and investor confidence.

FLOKI/USD 1-day price chart (source: CoinMarketCap)

The Bollinger bands travel south on the FLOKI price chart as the upper bar reaches 0.0000353780 and the lower bar is 0.0000266349. This movement and decreased trading volume may indicate a lack of buyer interest and a change in mood toward selling, which might add to the downward trend.

The price action is moving from the bottom band, creating green candlesticks, signaling bulls may buy at these lower levels to reverse the negative trend.

With a value of -0.0000020487, the Moving Average Convergence Divergence (MACD) slips into negative territory below its signal line, adding to the bearish mood. This negative trend and the histogram’s increasing red bars show that FLOKI‘s bearish momentum is rising. Investors may wish to reduce their exposure or employ risk management methods to safeguard their holdings.

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