- FLOKI’s future open interest is climbing despite the recent price weakness.
- RSI remains weak, suggesting bearish to neutral short-term market momentum.
Floki Inu ($FLOKI) is showing resilience as it hovers above a critical support zone. The token recently saw increased market activity, with weekly gains pointing to growing bullish interest.
According to analyst Crypto Tony, FLOKI is currently retesting a key support level around $0.00021. This area, which previously acted as a resistance, is now serving as a demand zone.
A sustained hold at this level could support a bullish continuation into Q3 2025. Tony confirmed he remains in an extended position, suggesting confidence in the level holding.
The token broke out of a rising wedge pattern in late 2023, triggering a rally through early 2024. Since then, it has moved within a range capped by resistance at $0.00031 and supported near $0.00021.
Technical traders are watching for confirmation signals at this support level. A bounce may trigger a new upward leg, while a breakdown could prompt deeper retracement.
Rising Futures Open Interest Reflects Cautious Optimism
Data from CoinGlass shows a rising trend in FLOKI futures open interest since April 2025. Open interest now holds above $10 million, following previous peaks near $60 million in mid-2023 and December 2023. Analysts note that higher open interest often reflects growing trader involvement and potential bullish sentiment.
The chart indicates that while price remained flat in May and June 2025, open interest increased. This could signal accumulation or strategic hedging rather than immediate price speculation.
The correlation between price and futures positions is a potential indicator of market confidence. However, traders are still waiting for a clear breakout before increasing their long exposure.
Short-Term Weakness Persists Despite Bounce From Local Low
FLOKI is trading at $0.00007164, down 3.57% in the last 24 hours. The token bounced after reaching a local low of $0.00006600, showing signs of bottoming. Volume rose to 112.47 billion during this dip, pointing to increased interest.
Despite the volume surge, the RSI remains weak at 42.18, with a moving average at 39.90. Analysts view this as a bearish to neutral signal. The $0.00008000 level, once support, now acts as resistance.
However, if FLOKI breaks above $0.00007400, bullish momentum may resume. Otherwise, failure to hold $0.00007000 could open the door for further downside.
Disclaimer:Â This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
