FLOKI's critical moment is coming, a strong rebound is coming! A strong surge of 10 times is just around the corner!

Amid the ongoing market reversal, popular meme coin Floki (FLOKI) is poised for a sharp rise, likely due to its recent breakout and bullish on-chain indicators. On September 24, 2024, the meme coin experienced an impressive price surge, breaking through the critical resistance level of $0.000137
FLOKI Technical Analysis and Upcoming LevelsAccording to CoinPedia’s technical analysis, despite FLOKI trading below the 200 exponential moving average (EMA) on the daily timeframe, it is still showing bullish momentum, possibly due to a breakout above the consolidation area and the $0.000137 resistance level.
The 200 EMA is a technical indicator used by traders and investors to determine whether an asset is in an uptrend or a downtrend. To confirm this breakout, FLOKI needs to close its daily chart above $0.000142.
Based on historical price action, with the recent breakout, there is a high chance that FLOKI price will surge 45% to the $0.00021 level in the coming days. However, in the upcoming rally, the meme coin might face hurdles at the $0.00016 level.
On-chain metrics further support the bullish outlook. According to on-chain analytics firm Coinglass, FLOKI’s long/short ratio is currently at 1.238, indicating that traders are strongly bullish on the market. In addition, its future open interest has surged 17% in the past 24 hours and 4.9% in the past 4 hours.
The increase in open interest indicates that traders and investors may be aggressively betting on long positions. Currently, 55.33% of the top traders hold long positions, while 44.67% hold short positions.
Ichimoku Kinko Hyo paints a bullish scenarioThe Ichimoku Cloud on the FLOKI 4-hour chart gives you insight into current price action and market sentiment. This technical indicator highlights potential support and resistance levels, trend direction, and momentum.
Currently, the price of FLOKI is above the Kumo, which indicates bullish sentiment. Since the Kumo is green, it indicates that FLOKI is in an uptrend and could provide support if the price falls back to the Kumo.
The Tenkan-Sen (blue line), also known as the conversion line, reflects short-term momentum and is above the Kijun-Sen (red line) baseline, indicating that bullish momentum is dominant. Typically, when the Tenkan-Sen crosses the Kijun-Sen, it is considered a bullish signal, confirming the possibility of continued price increases.
Additionally, the Chikou Span (green line) or lagging line is above the current price, further strengthening the bullish outlook. This line reflects the current price position relative to past price action and when it is above the price, it indicates that momentum remains in favor of buyers.
To summarize, the Ichimoku Cloud on the 4-hour chart of FLOKI indicates a positive trend. The alignment of the Tenkan-Sen and Kijun-Sen, as well as the Green Cloud and Chikou Span all indicate that FLOKI may continue to rise in the short term.
FLOKI Price Prediction: Can the Price Double in the Future?FLOKI is approaching a critical resistance level around $0.0001651, a key area that has historically posed challenges for the coin. If FLOKI manages to break through this resistance, it could signal a stronger bullish move, potentially pushing the price to $0.00034, a value not seen since June 2024.
Such a breakout would signal a major trend reversal, highlight strong buying momentum and strengthen the memecoin’s relevance within the Ethereum ecosystem.
On the downside, if FLOKI fails to hold its current support at $0.00011, there is a risk of further decline. The next support is around $0.00009, which may provide temporary relief. However, if the bearish pressure persists, FLOKI could fall to $0.000031, marking its lowest point since March 2024.
All in all, FLOKI seems to be at a critical juncture. A breakout above $0.0001651 could open the doors for further gains and solidify its position as the leading meme coin, while a failure to hold the $0.00011 support could result in a sharp decline that could revisit the early 2024 lows.
In simple termsIf FLOKI closes above $0.000142 on a daily basis, it could surge 45% to $0.00021. FLOKI's long/short ratio is currently at 1.238, indicating strong bullish sentiment among traders. In summary, both technical indicators and market sentiment support FLOKI's bullish outlook, and in the short term it is expected to push it further up to test the important resistance level of $0.000165. If the daily line closes above $0.000142, it will provide support for testing key pressure levels.