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Cryptocurrency News Articles
FLOKI Memecoin Price Could Be Ready For a 150% Surge – Experts
Oct 19, 2024 at 04:30 pm
Analyst @ZAYKCharts has shared an optimistic outlook for FLOKI, suggesting that the token could be primed for a substantial price rally.
Analyst @ZAYKCharts has optimistically predicted a substantial price rally for FLOKI, suggesting that the token is poised for a breakout from a falling wedge pattern, which could lead to gains of 100-150%.
According to the chart shared by @ZAYKCharts, FLOKI has been trading within a falling wedge for several months. This pattern is typically characterized by lower highs and dropping lows, and it often signals a bullish reversal.
$FLOKI Finally Falling Wedge Breakout ✅
Seems Like Ready for 100-150% Bullish Wave
#FLOKI #FLOKIUSDT #Crypto pic.twitter.com/IPfWrB5iM9
As the price breaks above the upper trendline of the wedge, it is being closely monitored by analysts. This movement from lower highs to higher lows suggests a shift in market dynamics, where buying pressure is expected to exceed selling pressure, paving the way for a sustained advance.
Falling wedges are generally regarded as bullish formations, indicating a likely price increase following the breakout. In this case, the tweet from @ZAYKCharts suggests that FLOKI is preparing for a major bullish wave, potentially yielding gains of 100–150%.
The analysis pinpoints crucial levels that will impact FLOKI's potential upward movement. The breakout level, situated around $0.00017000, serves as the immediate resistance. To maintain the bullish momentum, the price must sustain itself above this point. Analysts anticipate that holding above this level will confirm the breakout and encourage further buying activity.
On the support front, the lower trendline of the wedge has consistently provided a strong base. Another support level is identified at $0.00011500, which acted as a consolidation point prior to the breakout. These levels will be critical in maintaining the overall uptrend if a pullback occurs.
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The price target for FLOKI, based on the chart analysis, is projected to be around $0.0004100. This target aligns with @ZAYKCharts’ prediction of a potential surge of 100-150%. If the bullish wave continues, reaching this level would mark a significant gain from the current price point.
The term "falling wedge breakout" in the tweet indicates that FLOKI has completed its downward pattern and could be poised for an upward push. Technical analysis suggests that this could be the beginning of a new uptrend, with the projected target reflecting this sentiment.
Moreover, according to analyst @Bluntz_Capital, it appears that $FLOKI has completed a macro ABC correction, followed by a 3-month period of accumulation. The price is gradually approaching a breakout, which could lead to new all-time highs.
Confident in this potential, @Bluntz_Capital has added more FLOKI to his long-term holdings, anticipating a swift rally once the accumulation phase concludes.
macro abc on $floki looks done
with a 3 month accumulation breaking inching closer every day, once it gives way, we'll be at fresh all time highs fairly quickly imo
have added some today to long term non trading bags pic.twitter.com/InMVl9zxVf
Hence, for FLOKI to reach the anticipated target, the breakout must be supported by increased trading volume. Analysts will be keeping a close eye on any retests of the resistance levels. Furthermore, if the price can hold above the support level, it would signal strength and reinforce the potential for further gains.
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