FLOKI Price Could Surge Toward $0.000200 After Solid Retest

FLOKI has shown a short-term bullish outlook, with recent price action indicating potential for upward movement. After sweeping 12-hour liquidity into the 3D support and resistance zone, the token holds above key levels, suggesting the possibility of a return to resistance near $0.00011514.

A solid Cup & Handle pattern on the daily chart adds to the optimism, with strong volume backing the retest of the neckline. If the token maintains its position above the 3D S/R zone, analysts predict further upward momentum, with a target of $0.000200. The coin’s market cap of $975.38 million places it within the top 120 assets, with sustained market interest as shown by $112.07 million in 24-hour trading volume.

Technical Setup Suggests Potential for Upside Movement

According to Scient’s analysis, the asset has been holding above its established support box, as well as relative lows (RLs), providing a foundation for further price action. If the token sustains its position above the 3D S/R zone, it could push toward the target range near $0.00011514.

FLOKIUSDT 12-Hr Chart | Source:x

Additionally, the key factor in determining the next price move is the ability to hold above this critical level. However, failure to do so could trigger further downside pressure, potentially invalidating the current bullish outlook. On the other hand, maintaining above this support zone could pave the way for a return to resistance levels, with the potential to reach $0.00013299.

Technical Setup Suggests Potential for Upside Movement

On the daily chart, the token’s price has formed a classic cup and handle pattern, with the price hovering just above the neckline. This pattern is widely regarded as a bullish signal, indicating that the token may be preparing for an upward breakout. The volume accompanying the recent retest of the neckline has been strong, reinforcing the notion that buying pressure is mounting.

FLOKIUSDT 1-Day Chart | Source:x

As the price continues to hold above the support zone, the likelihood of a breakout increases, suggesting that it could soon experience upward momentum. The strength of the volume during the retest indicates that the support is solid, and analysts expect that once buying momentum gains strength, the price could experience a significant upward movement.

Market Conditions and Trading Volume Provide Stability

Despite a minor decline in the asset’s price over the past 24 hours, market conditions remain relatively stable. The token experienced a brief surge, peaking just above $0.0000102, before encountering resistance and undergoing a minor pullback.

However, the volume traded remains robust, with $112.07 million in recent transactions. This sustained market interest indicates that it is not facing a significant downturn and suggests that the token is in a consolidation phase.

FLOKIUSD 24-Hr Chart | Source: BraveNewCoin

The price chart indicates a narrowing range, suggesting that the coin may either continue its upward momentum or face further pullback, depending on market developments. Investors are watching the price action closely, with an emphasis on the volume and liquidity levels, as these factors will influence the next significant move.

Moreover, with a market cap of $975.38 million, it remains solidly positioned in the top 120 assets, but breaking through resistance is crucial for its next price move.

Looking Ahead: Price Action Could Break Key Resistance Levels

As the token continues to trade within a narrow range, the ability to hold above the support zone will be critical for determining its next price movement. With the Cup & Handle pattern signaling potential for a breakout and the strong volume confirming mounting buying pressure, its path toward the $0.000200 resistance level appears possible.

However, the token’s performance will largely depend on its ability to maintain above the crucial support levels. Investors will watch price and volume closely, as they may determine if the cryptocurrency breaks resistance and hits new highs.