A potential long position can be set up for FLOKI, targeting the previous high.
- The key level aligns with the retest of the downward trendline, making it a significant confluence zone for entry.
- The circled area is identified as a fake support level, likely intended to lure in long positions prematurely.
- A stronger key level exists slightly below, where genuine buying pressure is expected.
This setup prioritizes confirmation of real support before executing a long position.