FLOKI prices have surged 71% in the past 24 hours, trading at $0.0002526, and trading volume has surged 475% to $2.1 billion. The surge comes ahead of the launch of a New York Times Square advertising campaign on March 15. The campaign is scheduled to last for three months. The goal of the campaign is to increase FLOKI's visibility among mainstream audiences, with Times Square attracting more than 300,000 visitors a day. FLOKI's ads will be displayed on a giant LED screen next to the Nasdaq billboard.
The price of FLOKI is gradually rising after a long consolidation phase. The bulls found support at the $0.00003585 level, which helped them to gain momentum and push the price higher. Despite a brief rejection at $0.0001750, the bulls seemed to have the tenacity to continue the upward move, pushing the price towards the $0.0002795 resistance level. Moreover, the 50-day and 200-day simple moving averages (SMAs) confirm the bullish sentiment supporting the price of FLOKI. The moving averages crossed at the $0.00003585 level, confirming the overall bullish view. The relative strength index (RSI) is in the overbought zone at 73, indicating strong buying pressure.
The bullish momentum for FLOKI’s price remains steady, with buyers aiming to break above the current resistance at $0.0002795. Moreover, the golden cross suggests that if the momentum remains strong, the potential for further gains remains, which could reach higher highs in the coming weeks. Conversely, it is worth noting that the RSI has entered the overbought territory, which suggests that a price correction is likely. This could encourage the bears to take control and push the price lower, forcing the bulls to retreat to the $0.0001750 support area, which coincides with the lower boundary of the channel.
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