The bullish signal for FLOKI has arrived: The bull flag is in effect.

FLOKI, which attracted attention with its short-term rise, has blinked at a new bull run.

The $FLOKI price has increased by 21.79 percent in the last 24 hours and recorded a weekly increase of 62.39 percent. This rise of the popular #memecoin gave a bullish signal with important indicators. The Relative Strength Index (RSI) exceeded 70. The memecoin frenzy's increasing strength and Bitcoin's surpassing $ 90,000 played a critical role in this rise.

The recent rise in the FLOKI price increased the RSI value from 60 the day before to 71.42. This metric indicates strong buying momentum. An RSI above 70 usually indicates that the pair is in the overbought region and indicates a potential correction.

However, this does not always mean a decline. The RSI is a momentum indicator that measures the overbought or oversold status of an asset. When the values ​​are above 70, it is overbought, and when they are below 30, it is oversold.

Although FLOKI’s RSI value is currently in the overbought region, it has corrected after rising above 80 in the past, suggesting that the rally may still continue.

FLOKI’s Ichimoku Cloud chart (a popular and flexible indicator that shows support and resistance, momentum, and trend direction) is showing an uptrend. The price is trading well above the cloud, indicating a strong uptrend.

Leading A (green line) is above Leading B (red line), supporting the bullish view, and the overall configuration of the cloud is positive. Also, the price is trading well above Tenkan-sen (blue line) and Kijun-sen (orange line), supporting the bullish move.