The Floki price surged over 13% in the last 24 hours to trade at $0.000127 as of 7:20 a.m. EST as investors rush to buy the meme coin.
This uptick in the FLOKI price comes after the project scored major deals with English Premier League soccer teams.
As part of an effort to boost the token’s visibility, the project has entered into a one-year agreement that will see FLOKI and its Valhalla game feature on various English Premier League properties.
FLOKI tokens will be the crypto partner for Nottingham Forest. The project’s upcoming Valhalla game will also feature on the back of the Sunderland AFC Jersey, while on-screen advertisements for the project will be shown throughout all league games as well.
The Floki Price Attempting To Break A Major Resistance
4-hour chart for FLOKI/USD (Source: GeckoTerminal )
The Floki price is attempting to overcome the resistance level at $0.0001335. Should it successfully break above this barrier, the meme coin could have the technical foundation needed to keep climbing in the following 24 hours. Traders might subsequently try to push FLOKI up to $0.0001460.
However, the crypto getting rejected by the $0.0001335 resistance level could invalidate the bullish thesis.
In this alternative scenario, the meme coin might be at risk of falling to the immediate support level at $0.0001227.
Continued sell pressure should the Floki price fall to this technical safety net could then expose FLOKI to the risk of falling to as low as $0.0001111.
Technicals Suggest The Floki Price Could Keep Climbing
From a technical perspective, indicators on FLOKI’s 4-hour chart show that buyers currently have the upper hand against sellers.
More specifically, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators suggest the Floki price could continue to rise in the next 24 hours.
Throughout the past day of trading, the MACD line has broken away above the MACD Signal line. Traders usually see the MACD positioned above the MACD Signal line as a sign that a crypto is in a short-term positive trend.
What’s more, the growing gap between the two lines suggests FLOKI’s bullish momentum is picking up steam.
RSI readings on the 4-hour chart have also risen consistently throughout the past trading session, which indicates bullish strength. The positive slope of the RSI line might be an indication of buyers growing stronger against sellers as well.
