Bitcoin

FLOKI

<ul class="wp-block-list">
 <li>FLOKI experienced a 20% drop, erasing all October gains amid U.S. election volatility.</li>  
 <li>Key support levels at $0.00012 and $0.00069 may determine future price movements.</li>  
 <li>On-chain metrics show steady accumulation, suggesting potential for a price rebound soon.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/floki-celebrates-new-ath-as-floki-price-catches-up-with-platform-success-altcoin-enters-price-discovery-with-bnb/" rel="noopener noreferrer nofollow">FLOKI's price action in October</a> was a rollercoaster ride. After a period of impressive performance, the coin faced a sharp decline as November began. Volatility surrounding the U.S. election created uncertainty. As a result, FLOKI dropped by 20%, wiping out all gains from October. Traders now ask how much further this pullback will go before a recovery begins.</p>  
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<h2 class="wp-block-heading" id="h-analyzing-floki-s-pullback">Analyzing FLOKI’s Pullback</h2>  
<p>In October, FLOKI hovered around the critical <a href="https://www.forexfactory.com/thread/58778-764-vs-786-fibonacci-levelswhich-is-it" rel="noopener noreferrer nofollow">78.6% Fibonacci level at $0.00012</a>. This level acted as important short-term support. Below this lies April’s low, another key support zone that halted a severe sell-off in August.</p>  
<p>These levels could prevent further losses. A rebound may occur if Bitcoin (BTC) recovers after the elections. However, a broader market downturn could push FLOKI down to test deeper lows. If the current support breaks, traders should keep an eye on August’s low and $0.00069 as significant targets.</p>  
<p>On-Chain metrics reveal market tension. The average <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI" rel="noopener noreferrer nofollow">Relative Strength Index</a> shows bears hold the advantage. Additionally, the sluggish On-Balance Volume (OBV) indicates weak demand for FLOKI. Traders must remain cautious, as these indicators suggest a tough battle ahead.</p>  
<h2 class="wp-block-heading" id="h-accumulation-metrics-signal-potential-rebound">Accumulation Metrics Signal Potential Rebound</h2>  
<p>Despite the recent struggles, on-chain metrics indicate steady accumulation. This trend suggests a rebound might be possible. Currently, market sentiment remains neutral, leaving prices open to both declines and increases.</p>  
<p>However, a rise in daily active addresses points to renewed interest. This uptick follows a pre-election dip and hints at growing demand. If this momentum continues above established support levels, a potential reversal could follow.</p>  
<p>Moreover, the gradual rise in FLOKI tokens held outside exchanges contributes to this optimistic outlook. Despite the 20% drop, selling pressure on exchanges has eased. FLOKI’s availability on <a href="https://cryptonewsland.com/how-5-centralized-crypto-exchanges-are-innovating-the-future-of-nfts/" rel="noopener noreferrer nofollow">centralized platforms</a> has decreased since late September.</p>  
<p>This drop in supply may provide the room needed for recovery. Ultimately, the results of the U.S. elections will significantly influence short-term market sentiment and investors’ reactions to FLOKI. All eyes are on the election results as traders prepare for potential market shifts.</p>   
<p>The post <a href="https://cryptonewsland.com/floki-erases-october-gains/" rel="noopener noreferrer nofollow">FLOKI Erases October Gains; How Low Will Prices Drop?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

FLOKI Erases October Gains; How Low Will Prices Drop?

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