Floki witnesses its daily trading volume increase by 107%

Floki (Floki) daily trading volume increased by 107%, according to CoinMarketCap.

According to CoinMarketCap, Floki's price has risen 107% in the past 24 hours.

During this period, volatility was high, reaching a 17% local high at $0.000123, and then dropped to $0.000109.

This short-term volatility and liquidation heat map suggests that Meme Coin may experience a deeper pullback.

For long-term investors and traders, Floki has a bullish outlook, driven by May’s Swift Bitcoin (BTC) gains.

High demand for Floki could lead to 22% of gatherings.

Source: Floki/USDT on TradingView

Floki set up a bearish order at $0.0000695, which consists of a lower high in March.

The area is highlighted in cyan and breached in April, almost a week ago. The move beyond the region means it is now a bullish circuit breaker.

This bullish structural breakthrough and the continued rally in May were accompanied by an increase in demand for Floki. OBV broke above the local highs hit in February and conducted an unsuccessful test in April.

Similarly, the CMF is much higher than 0.05, indicating a large amount of capital flowing into the market.

Floki has been on a downward trend since mid-December.

The rally and increase in demand beyond bullish circuit breakers means that the 61.8% Fibonacci retracement level based on November rally is the next bullish target.

Source: Xiaodian

The 3-month liquidation heat map highlights the accumulation of liquidation levels in the $0.000107 area (from February). This magnetic zone has successfully pushed up the price.

Source: Xiaodian

Zoom in, the 1-week liquidation heat map shows where the next price transfer is. The $0.0001 and $0.000092-0.000095 region was found to be liquidity clusters that could be swept in the coming days.

A bullish response may be seen to the decline in these levels. Traders and investors can prepare for this possibility while focusing on Bitcoin in case the trend turns bearish and affects Floki.

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