FLOKI Price Triggered A Breakout From The 200–day EMA; Is ATH Soon

• Floki token’s price has jumped by 37% in the past 2 days, indicating the dominance of bulls.
• The trading volume has surged by 175% in the past 24 hours.

The Floki price has performed positively this year and gained 473% YTD. The FLOKI price chart has displayed slow and steady gains since March. It rose by taking support on a trendline.

Since June, the Floki crypto price has declined by 28% and has taken support on the trendline. The price has bounced back by 40% after supporting the trendline.

The meme coin price has extended to the last swing high, forming a ‘doji’ candlestick pattern. The recent bullish momentum seems to interrupt at the $0.000180 mark.

The Floki token traded at $0.000183 at press time with a neutral momentum in the past 24 hours. The market capitalization was $1.70 Billion, and the 24-hour trading volume was $499.45 Million.

Is a Massive Upmove Loading?

$FLOKI Breaking out on daily TF…

Target – 0.000599$ (nearly 250% move)

Invalidation – daily close below 0.00013319$.. (25% risk)#FLOKI pic.twitter.com/3NV5d1wth2

— CHETAN.DOT (@chetangurjar642) July 15, 2024

A source on X claimed that the FLOKI price could gain around 250% in the next few weeks. It triggered a breakout from a trendline and was ready to shoot up soon. Besides, there might be a risk of 25%.

Floki Price Technical Analysis Over the 1-D Timeframe

On a daily time frame, the trendline has worked as a major support level since March. The Floki crypto price formed a base on the trendline and gained bullish momentum.

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During this bullish momentum, the trading volume increased 175% in the past 24 hours. The rise in trading volume might be a sign of a bullish forecast.

If the price manages to surpass the $0.000180 mark, bulls may show confidence. The FLOKI price over $0.000200 hurdle may invite investors to move for a new all-time high.

Alternatively, if the Floki price faces resistance from the $0.000180 mark, it may melt to the trendline. Assuming the price starts trading below the trendline, it might be a bullish sign that may lead to bearish momentum.

Based on the technical indicators, the Floki crypto price advanced the key moving average, showcasing a bullish forecast. MACD developed a golden crossover with the Signal line and formed green histograms.

Profit Booking or ATH?

The recent surge in the Floki crypto price, along with the increased trading volume, indicated bullish momentum. The breakout from the trendline and positive technical indicators suggested the potential for a significant upmove in the coming weeks. 

However, it’s important to consider the potential resistance levels and the possibility of a bearish momentum if the price fails to surpass certain key levels. 

Overall, the current market conditions point towards a favorable outlook for Floki, but staying informed and monitoring the developments closely is essential.

Technical Levels

The Floki crypto price is expected to face resistance from the $0.000180 and $0.000300 levels. It may take support at $0.000160 and $0.000135 level.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.