FLOKI: Key factors favoring the bears as the memecoin sinks lower – BitRss

• The market structure of FLOKI on the daily and the 4-hour charts were bearish.
• Further losses were anticipated as momentum and volume also favored the sellers.

Floki [FLOKI] has fallen 31.6% below the lows from November. The entire memecoin sector has seen large losses.

In the past month, the sector was down by 41.5%. FLOKI’s losses have not yet halted, and the price has slipped below the 78.6% Fibonacci retracement level based on the rally from March 2024.

At present, the swing low from the 3rd of February was the short-term target due to the prevalent trend. How much lower can the meme coin go?

FLOKI channel could give traders opportunities