Floki Price surged 48%, Floki prepares for New All time high?

Floki Price prediction suggests a rise in the long term and buyers seem to be highly active at lower levels. Floki’s price surged 48% approx on a single day and attempted to break out of the previous swing high hurdle. However, the confirmation of the breakout is awaited. The price sustains above the 50-day EMA showcase trend is in the upward direction.

Floki token attracted the attention of many investors due to the ongoing trend of the meme coin. It witnessed a massive spike in the buying volume showing some genuine investors had taken long positions and expected the rally to continue.

Floki’s price is trading at $0.000043584 with an intraday decline of -8.4%. The 24-hour volume-to-market cap ratio is 0.9705. At the beginning of February, Floki’s price gained positive momentum and attracted the attention of many crypto lovers. Later, the price rallied more than 200% approx in a short span of time and hit an all-time high at $0.000068240.

However, Floki’s price witnessed minor profit booking and retrace downward. The downfall halted near $0.000025656 and formed a bullish hammer candle. Sadly, prices were unable to give the follow-up momentum and got stuck into the narrow range of consolidation.

However, Floki price witnessed minor profit booking and retrace downward. The downfall halted near $0.000025656 and formed a bullish hammer candle. Sadly, prices were unable to give the follow-up momentum and got stuck into the narrow range of consolidation.

Floki price might hit the new All time high

FLOKI/USDT daily chart by TradingView

Floki Price showed speculative spikes in between consolidations but due to strong sellers prices reversed back to the lower range. If buyers succeed to push the price above $0.000050049 then it will increase the probability of hitting the new all-time high.

However, if the price remains below the hurdle level then bears may try to drag it down to the lower range. The lower range of consolidation will act as a strong support and till the price sustains above it the downside seems to be limited. The technical analysis suggests, Floki’s price is in bulls grip and the probability of expanding upward remains high.

Floki price on the weekly time frame

Floki Price formed a bullish pattern on a weekly time frame but struggled to break out of the previous week’s high. Floki’s price is bullish on multiple time frames which increases the confidence of the long-term investors. In the past couple of days, speculative moves are also visible which is creating doubt in the recent up move.

However, the price and volume analysis shows that the recent up move had a high probability of sustaining the higher levels. The MACD had generated a positive crossover and the histogram bar is on the rise indicating bullish momentum might continue. The RSI at 57 sloping down denotes neutral territory and balance between bullish and bearish positions.

Conclusion

Floki Price prediction suggests a rise in the long term and the chart structure is highly bullish due to the ongoing trend of memecoin. Floki Price surged 48% in a single day and attempted to break the swing-high hurdle. However, the confirmation is still awaited. The technical analysis suggests Floki’s price is in a bull’s grip and the probability of expanding upward remains high.

Technical levels

Resistance levels: $0.000050049 and $0.904

Support levels: $0.000025656 and $0.000068240

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.