FLOKI Shows Bullish Signs, Eyes 24% Price Surge
Key Takeaways
- FLOKI is displaying a bullish chart pattern (“Cup and Handle”) that suggests a potential price increase.
- Technical indicators such as the moving average and Parabolic SAR confirm upward momentum.
- A Golden Cross signals a possible trend reversal in favour of buyers.
- Spot and derivatives market data indicate growing buying interest.
- A price increase of up to 24% to around USD 0.00006711 is possible if resistance is broken.
Technical Analysis: Bullish Pattern in Focus
FLOKI, a meme coin with a growing community, is currently showing a technical pattern that is catching traders’ attention: the so-called “Cup and Handle” pattern. This formation is considered a precursor to a potential upward move. If FLOKI breaks through the marked resistance on the chart, a price target of approximately USD 0.00006711 would be realistic – an increase of around 24% from the current price.
Golden Cross Reinforces Upward Trend
Another positive signal comes from the moving average (MA). A so-called “Golden Cross” has formed: the short-term 20-day average has crossed above the long-term 200-day average. This signal suggests that short-term buyers currently dominate and may initiate a trend reversal.
Parabolic SAR Indicates Buyer Dominance
The Parabolic SAR (Stop and Reverse) also supports the bullish scenario. This indicator uses dots above or below the price to determine trend direction. Currently, the dots are positioned below the price – a sign that buyers are dominating the market. This increases the likelihood of further price gains.
Growing Demand in the Spot Market
In recent days, investors have accumulated over USD 500,000 worth of FLOKI in the spot market. These purchases reduce the number of coins available on exchanges – a potential trigger for a supply shortage. If this trend continues, it could push the price even higher.
Derivatives Market Shows Bullish Interest
The positive sentiment is also reflected in the derivatives market. The so-called Taker Buy/Sell Ratio stands at 1.024. Values above 1 indicate that more buy than sell orders are being placed. This suggests clear buyer dominance, further supporting the bullish price development.
Our Assessment
FLOKI is currently showing several technical signals indicating a potential price recovery. The “Cup and Handle” pattern, the Golden Cross, and buyer dominance in both the spot and derivatives markets support a continuation of the upward trend. An increase of around 24% is possible if resistance is broken. However, as always, you should keep an eye on the volatility of the crypto market and base your decisions on well-founded analysis.
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Sources
- TradingView
- CoinGlass
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.18 |
| 24h % | 3.22 % |
| 7d % | 17.74 % |
| 30d % | -5.86 % |
| 60d % | -18.02 % |
| 1y % | 21.44 % |
| Market Cap | $27,481,068,721.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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