Floki Inu (FLOKI) Breaks Out With 30% Surge — Bullish Rally Toward $0.0001158 in Sight

Sean Williams
Floki-Inu

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Key Takeaways:

  • FLOKI confirmed a bullish breakout, rising 30% and breaking key resistance at $0.000088.
  • Trading volume more than doubled, suggesting sustainable bullish momentum.
  • On-chain data shows accumulation and strong long trader positions, hinting at continued upside.

Floki Inu (FLOKI) has officially flipped its bearish trend after posting a remarkable 30% rally on the charts. The memecoin’s breakout from a descending channel pattern has not only shifted its technical structure but also attracted renewed attention from the crypto community.

As traders and analysts weigh in, FLOKI’s price action, trading volume, and on-chain activity suggest that a sustained bullish rally may be underway.

Floki Inu Price Action Confirms Breakout Pattern

FLOKI’s rally came after it confirmed a breakout and successful retest of a descending broadening wedge pattern — a setup typically associated with bullish reversals. At press time, the memecoin was trading around $0.00009085, marking a 7.5% rise in just 24 hours.

Alongside this price increase, trading volume spiked by over 101%, indicating heightened investor interest and signaling the potential sustainability of the rally.

Key Technical Levels Suggest Further Upside for FLOKI

FLOKI technical analysis
Source: Trading View

Technical analysis reveals that FLOKI broke above a critical horizontal resistance at $0.000088, reinforcing its bullish stance. This breakout opens the possibility for a further 30% gain, potentially propelling FLOKI to the $0.0001158 level.

However, the 200-day Exponential Moving Average (EMA) near $0.00009810 could act as a temporary resistance. A breach above this EMA would likely validate a longer-term uptrend and attract even more bullish momentum.

On-Chain Data Supports Bullish Sentiment

On-chain data from Coinglass further strengthens the bullish case. Over the past 48 hours, exchanges witnessed outflows of approximately $250,000 worth of FLOKI — a strong sign of accumulation.

Also Read: Floki Inu [FLOKI] Jumps 20%: Analysts Predict Further Bullish Rally

At the same time, long positions continue to dominate the derivatives market. With $834.72k worth of long positions compared to just $198.14k in shorts, traders appear confident that FLOKI’s rally has more room to run.

Floki Inu’s technical breakout, surging volume, and bullish on-chain metrics all point toward a promising uptrend. As long as the memecoin holds above the $0.000088 support level, analysts suggest a continued climb toward $0.0001158 is plausible.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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