- FLOKI is testing the 0.618 Fibonacci retracement level, which signals strong support during bullish corrections and sets the stage for a rally.
- The cup and handle pattern emerging in FLOKI’s chart indicates a classic bullish continuation, with potential for a breakout above key resistance.
- Fibonacci extensions project major price targets at 1.272, 1.414, and 1.618 levels, suggesting FLOKI could experience an over tenfold surge soon.
FLOKI shows strong technical signals, suggesting a potential parabolic surge if key support holds. Recent analysis examines price bottoms, chart patterns, and breakout targets, framing the cryptocurrency for a notable upward move.
Fibonacci Support and Technical Setup
The chart shows FLOKI testing a key support level near the 0.618 Fibonacci retracement at $0.00006057. This level often serves as strong support during bullish retracements. Price action at this zone suggests that the current correction phase might be ending if buyers step in.
Technical analysis indicates that support holding at this level could signal a move toward higher prices. A tweet from CryptoELlTES and CryptooELITES stated an expectation of an 18X rise for FLOKI, reinforcing the bullish technical view.
Cup and Handle Pattern Analysis
A rounded bottom forms a potential cup and handle pattern in FLOKI’s price chart. This pattern is widely regarded as a bullish continuation formation. The coin previously peaked at around $0.000371263 and has experienced a corrective phase since then. Technical charts suggest that completion of this pattern may signal a strong breakout.
The handle formation remains under close observation by traders. They believe that confirmation of this pattern could lead to renewed upward momentum. Market participants are closely monitoring the formation for breakout confirmation.
Resistance Levels and Breakout Targets
Immediate resistance lies at the previous high of $0.000371263. A breach of this level could open the door to further upside based on Fibonacci extensions. Analysts project potential targets at the 1.272, 1.414, and 1.618 Fibonacci levels. These targets correspond to price levels near $0.001167078, $0.002163123, and $0.005248901, respectively.
If bullish momentum continues, FLOKI may experience a parabolic move from its current range. The technical indicators suggest that a major breakout is plausible if the coin overcomes immediate resistance. Investors are watching these levels closely as key markers for a potential surge in FLOKI’s price.
