FLOKI is breaking out of consolidation zones and price patterns that have characterized it in the past, consolidation zones which preceded price surges. Elders in the crypto space will remember that FLOKI broke out from above 0.00003533 late last year on its way to 0.0003133. When analyzing the charts, it is clear that the MOTION tokens intensity is likely to carry it to new highs as it further consolidates in this range following the previous breakout.
Token’s price has constant tendencies to break upward, From a very low price of 0.0000094046 the token generated a rally to reach a price of $0.00006831 and thus generated a gain of 626%, later in early 2023 it did another breakout hitting $0.0003133, reaching 786% in return. All the figures indicate that in the near future a FLOKI pump is coming.
The chart integrates the Fibonacci retracement levels which help to establish potential barriers of support and resistance. As at the time of writing FLOKI IMO is situated around the 0.786 Fibonacci level at 0.0001385425, which is regarded as a potentially strong area of support. If this level is able to sustain the price, it could be used as a launching pad for the next upward shift. 0.618 Fibonacci level (0.0000673919) as well as 0.5 level (0.0000470603) are important points which traders may consider using as additional points for support in case of any downward movement.
Moreover, technical analyses show that there is a diminishing the degree of movement within the range consolidation zone, which is typically a build-up to large price action. For example, the RSI’s ‘pegged position’ towards the neutral 50 levels means that there are active longs and active shorts in the range, which is in line with the current consolidation. This position provides the ability to move in any direction i.e. shift in momentum towards buyers or sellers will determine who has the upper hand
Meanwhile, the MACD indicator shows that FLOKI’s market pressure was strong bearish but is now transitioning into a consolidation phase, characterizing the current confusion among market participants. However there is a doting point that stands out, which is that the MACD line (blue) is moving close to the signal line (dot orange).
Noticeably, the MACD histogram also indicates that the bearish momentum is lessening, since the red bars keep getting shorter. It is a usual characteristic to see before a reversal. If this trend continues and the MACD crosses over the signal line, it could attract buying pressure. This means that there is a likelihood the cryptocurrency will breakout and surge in value.
FLOKI Price Prediction to $0.0020
In the past, whenever the 50 RSI was broken by a similar MACD crossover such as this one, the token enjoyed sudden price jumps, like the uptrend from early 2024. The 0.0001385425 Fibonacci support (0.786 level) also backs this theory. So, it appears that the cryptocurrency is gradually breaking out of consolidation. If true, the currency may replicate its past breakout gains.
With this market setup, it does appear that the FLOKI token has a near term target of $0.0020, if previous breakout levels are reached. However, two zeros will have to be dropped off before that happens. Still, a strong support zone exists at $0.000091184. A close below this area may end the bullish momentum and lead to a time consuming range bound or bearish trend.