#FLOKI
Following the strong upward rally experienced by the coin, selling pressure has started to emerge, with price moving below the 200-day Moving Average (MA200). This reflects weakening bullish momentum and suggests that the market has entered a bearish corrective phase.
Key Support Zone & Expected Scenario
Price has now reached a major support zone at 0.00002000, which could serve as an important pivot area for a potential bullish rebound, particularly following the recent downside correction.
If this support zone successfully absorbs selling pressure and positive reversal signals begin to emerge, we could see an upward move targeting:
Potential Target: 0.00002525
Technical Signals Supporting the Scenario
Adding further weight to this potential setup is the presence of three consecutive descending trendlines (orange). Price is currently approaching a test of the third descending trendline.
Previous setups have shown bullish movements following breakouts above descending trendlines. Therefore, the current breakout attempt deserves close attention, as it could signal the end of the corrective phase and the beginning of a new bullish rebound.
Conclusion
The main focus is currently on the 0.00002000 support zone, while price approaches a potential breakout above the third descending trendline.
A successful rebound from support, combined with a confirmed trendline breakout, could open the door for an upward move toward 0.00002525.
Risk Consideration: This bullish scenario remains conditional on price holding above the key support zone and confirming the breakout. Trading below the 200-day Moving Average continues to reflect underlying weakness in the broader trend.
