jpyxx

The FLOKI/USDT 1-hour chart, a tapestry of minor peaks and troughs, paints a picture of a slight rebound – a modest +0.58% gain, to be exact – after a melancholy pullback. Trading near $0.00000600, it snakes through lower highs and lows, as if in a dance of decline, yet a spark of potential looms overhead. Our market, reflective in its broader downtrend, indicates a pause, a catch one’s breath moment, as FLOKI stabilizes with quiet dignity between $0.0000058 and $0.0000060. One might ponder if buyers, those fickle souls, are but slowly and reluctantly accumulating positions, building the foundation for a fleeting relief rally.

Data from the ever-vigilant Coinglass revealed that over $1.27 billion in leveraged positions were obliterated in a single day, with long traders bearing the brunt of the losses, accounting for nearly 90% of the calamity. The descent followed Bitcoin’s breach of its 200-day moving average, a critical support line that had stood firm for four months, now crumbling like a brittle structure. 🧱