#SOLHitsATH FLOKI's impressive 128% rise is now targeting the neck line at $0.00032049, aiming for a breakout that could push the price to a new historical high.
As the market recovers, and bitcoin recently reached a new historical high of $97,900, meme coins are making significant movements. Floki, in particular, stands out, showing a 7.21% jump and delivering a remarkable 700% return over the past year.
The market capitalization of meme coins rises above the $110 billion mark and is preparing for a bullish trend ahead. Will the ongoing recovery in the broader market, combined with the rise of meme coins, lift the Floki price to new historical highs? Let's take a closer look.
On the daily chart, $FLOKI
shows a powerful reversal growth, rising by 128% in just 17 days after rebounding from the support level of $0.000146.
FLOKI is currently trading at $0.00026, exceeding the key Fibonacci level of 78.60% at $0.00025. This marks an important psychological milestone, and the recent bullish engulfing candle reinforces the uptrend.
Supporting this bullish forecast, the overnight surge caused the growth of the lines of the VI DMI indicator. This delayed the negative crossing and contributed to the growth of the ADX line, signaling a stronger trend momentum.
In addition, the exponential moving averages (EMA) for the 50-day, 100-day and 200-day periods remain positively aligned, further supporting the bullish trend.
Will FLOKI reach the new ATH?
A slight intraday pullback of 1.30% serves as a small retest of the critical breakout zone. The price action involves rounding the reversal, which now positions FLOKI to test the neck line at the previous swing high of $0.00032049.
After this retest, a rebound could lead the price to target a new historical high above $0.003487. Fibonacci retracement levels suggest potential price targets of $0.00042 and $0.00062, which corresponds to Fibonacci extensions of 1.272 and 1.618, respectively.
On the other hand, a slide below the 78.60% Fibonacci level will lead to a decrease in the price before retesting the support levels at $0.000227 or $0.00020.