After a post-Monday surge on October 14, Floki (FLOKI) caught the attention of investors with a 12% jump. However, it faced sharp retracement after encountering resistance at a key price level. Despite this pullback, the renewed accumulation of FLOKI tokens signals a possible rally in the near future.
With meme coins continuing to dominate market sentiment, FLOKI has emerged as a favorite among speculators. But the big question remains: Is now the right time to join the trend?
FLOKI’s Market Structure – A Bullish Setup?
On a higher timeframe chart, FLOKI’s market structure remains bullish, especially after printing a higher high on Monday. However, the rally stalled at the mid-point of an ascending channel, marking a critical roadblock.
Since August, the lower range of this channel has served as a reliable support zone, providing an entry point for bulls. This area also aligns with a bullish order block (OB) near $0.000014, making it a vital demand zone.
If FLOKI holds above this level, it could present an ideal buying opportunity, with bullish targets around the mid-range, the 200-day Moving Average (MA), or even the channel’s upper range. Additionally, the stochastic RSI indicates a potential reversal, reinforcing the upside projection.
However, a drop below the lower boundary of the channel would invalidate the bullish outlook and open the door for further downside risks.
Rising Accumulation Boosts Bullish Sentiment
One of the most promising signals supporting FLOKI’s potential rally is the increasing trend of accumulation. On-chain data shows that a growing number of investors are moving their tokens off centralized exchanges (CEXes) into self-custody wallets. This shift suggests high confidence in a future price rally, as investors reduce their exposure to potential sell-offs.
At the same time, FLOKI’s supply on exchanges has decreased, reflecting reduced sell pressure. This creates favorable conditions for a potential price surge if buying momentum returns.
Despite the bullish signals, FLOKI’s Weighted Sentiment sits near neutral, indicating that the market remains cautious. Investors are holding back from making decisive moves following the Monday rally, waiting for stronger signals to emerge.
If FLOKI maintains support at key levels and gains upward momentum, it could trigger fresh buying activity and fuel another rally. However, traders should keep an eye on whether the token dips below the critical support range, which would weaken the bullish narrative.
Also Read: Floki (FLOKI) Breaks Resistance – Soars 9% In 24 Hours, Eyes 20% Rally!
Is FLOKI Set to Rally Again?
While FLOKI’s recent retracement may have sparked caution, the renewed accumulation trend and reduced sell pressure suggest underlying bullish potential. If the token holds above its key support near $0.000014, it could offer an attractive entry point for speculators looking to capitalize on the next leg up.
With meme coins retaining market dominance, FLOKI is well-positioned for a potential breakout—if momentum picks up again. Keep an eye on the market structure and investor sentiment as the week unfolds to decide if joining the trend is the right move.
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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