FLOKI, a cryptocurrency, has recently broken out of a chart pattern and has shown signs of a potential upward rally in the market. In the past 24 hours, FLOKI has experienced a significant increase in value, with a weekly gain of 28%. This bullish momentum is expected to continue as the asset has broken above a descending resistance line on the chart. The potential rally could see FLOKI reaching as high as $0.000284, its December 2024 high, with various resistance levels to overcome along the way.
Looking ahead, FLOKI may experience an unrestricted rally towards $0.000101, a 46.89% increase from its current price. However, to achieve this move, FLOKI must first break above the horizontal resistance at $0.000059, where selling pressure is anticipated. If FLOKI can surpass this resistance level, it could pave the way for a free rally towards $0.000101, but it will require additional buying momentum to sustain the upward trajectory.
Technical indicators suggest that FLOKI is showing strong momentum, with the Parabolic Stop and Reverse (SAR) tool indicating an uptrend. The Average Directional Index (ADX) also confirms the strength of FLOKI’s current uptrend. Additionally, FLOKI’s liquidation heatmap highlights potential price levels based on unfilled market orders, indicating a strong likelihood of continued upward movement. Millions of unfilled orders are clustered between $0.00007 and $0.00007694, suggesting a potential 45% move if FLOKI can break through its current resistance level.
Overall, FLOKI’s rally potential remains strong, supported by liquidity levels on the chart and technical indicators. With market momentum staying high, FLOKI is expected to maintain its position as one of the top gainers in the market. Traders should closely monitor FLOKI’s price movements and key resistance levels to capitalize on potential opportunities for profit. As FLOKI continues to show strong momentum and uptrend, market participants can expect further upward movement in the near future.
