World of Charts has provided an optimistic analysis of theFLOKI memecoin’s price movements. The analyst points out that FLOKI is currently trading within a narrowing range, forming a bullish pennant pattern.
This pattern indicates that upward momentum is building and a strong rally could be triggered once the pennant is broken to the upside.
Specifically, the analyst notes FLOKI is displaying a clear bullish pennant formation characterized by declining volatility inside converging trendlines following an initial price surge. The pennant breakout point will arrive if prices surge above the upper trendline, signaling the resumption of the previous upward trend.
Read Also: SUI Partners with MLS for New Digital Collectibles Experience
At present, FLOKI is calmly consolidating inside this contracting pennant as trading activity shrinks. But this coiling action also suggests stored energy that may explode higher once the pennant concludes. In the analyst’s view, FLOKI shows classical technicals of a bull pennant implying higher prices could soon manifest.
Read Also: This Trader’s XRP Price Prediction for When Bitcoin Hits $100k
Celebrate Dogecoin and Make Big Gains with Doge2014!
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Show less –
World Of Charts projects a further price increase of 200% following this breakout. If FLOKI follows through on this target, it could experience an additional rally, significantly elevating its price from the breakout point.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Top Analyst Expects FLOKI Memecoin to Spike 200% Following This Price Breakout appeared first on CaptainAltcoin.
