Against the backdrop of a broader crypto market recovery sentiment brewing, Floki price remains much eyed by investors as renowned crypto analysts forecast a bullish outlook for the token.
Investors are keeping a close eye on Floki price as the broader crypto market sentiment seems to be turning positive. Notably, renowned crypto analysts ‘Ali Martinez’ and ‘Bluntz’ have recently predicted a bullish outlook for the token, suggesting that it could be set for a massive price breakout.
According to an X post by market analyst Ali Martinez on February 15, Floki price appears to be poised for a rebound, with the key target being $0.000042. This statement, suggesting that price gains for the meme coin are to be expected, aligns with the market buzz that is painting a largely optimistic picture as the week comes to a close in the crypto landscape. While the $0.000042 level is noted as a key support, the token is currently trading at levels significantly higher than this.
Moreover, renowned market expert Bluntz highlighted some strong technicals for the meme token on X. The analyst points out that the asset's price chart on the smaller time frame is showing a ‘nice ascending triangle’ pattern, indicating that the buyers are pushing to cross the current resistance. If this resistance is breached, the meme coin could be up for remarkable price gains.
Additionally, the ascending triangle formation is coming after a bullish divergence setup, which is flagging the potential for further upside, according to the analyst. Notably, these bullish Floki predictions gained massive traction promptly as the broader crypto market seemed poised for further gains.
Crypto Market Shows Potential for Further Gains
It is interesting to note that broader crypto prices showed an upswing on Saturday despite the macro heat, where while Bitcoin held around $98K, meme coins saw a significant rising action. DOGE pumped over 4% to the $0.27 level, whereas SHIB and PEPE also traded dominantly in the green. In turn, even Floki saw an upside action, further garnering investor enthusiasm amid the bullish predictions.
FLOKI Price Action Today
At the time of writing, FLOKI token’s price showed a gain of around 2%, and it is currently trading at $0.00009871. The coin’s 24-hour low and high are at $0.00009702 and $0.0001046, respectively. The trading volume for the asset showed a jump of 23.17% to $163.1 million, aligning with the rising intraday movement.
Furthermore, the coin’s futures open interest also showed a rise of 2% to $17.44 million, according to Coinglass data. Also, the derivatives volume surged nearly 19% to $26.92 million. In total, the derivatives market data indicated a heightened investor appetite for the asset, which has added to the optimistic market sentiments surrounding the token’s future price movements, in line with the mentioned predictions.
