- FLOKI/USDT trades near $0.00009003, gaining 6.3% in 24 hours with resistance at $0.00009282.
- RSI on the 1-hour chart holds at 61.23, showing moderate bullish strength below overbought levels.
- Daily chart highlights a descending trendline breakout attempt, with targets ranging from $0.0001079 to $0.00026515.
Floki Inu (FLOKI/USDT) approached a critical technical level as the token traded near $0.00009246. Over the past 24 hours, its price climbed by 11.49%, reflecting renewed buying pressure in the market. Notably, FLOKI also strengthened against Bitcoin and Ethereum, rising 5.8% and 3.8% respectively.
Source: CoinMarketCap
Currently, FLOKI’s market cap surged to $887.55 million, up 9.4%, while 24-hour volume soared 89.2% to $235.89 million. The fully diluted valuation stands at $890.88 million, with a total supply of 9.66 trillion FLOKI tokens. The price action on the daily timeframe exhibited a tendency toward a downward sloping trend line that has played as a resistance area since November 2024. This level was closely observed by market players, since breaking out above this level would signal a change in market mood.
On the daily chart, price action approached a long-standing descending trendline. If broken, several resistance levels may come into play. The first key resistance lies at $0.0001079, followed by $0.00011535 and $0.00013414.
Technical Indicators Reflect Short-Term Bullish Momentum
Transitioning to the 1-hour chart, both RSI and MACD presented supporting signals. The RSI was at 68.21, which remained below the overbought line of 70 indicating further upside potential. In the meantime, the MACD values indicated bullish alignment with the fast line at 0.00000159 and the slow line at 0.00000174.
Source: TradingView
These readings signaled that buyers maintained control in the short term. Nevertheless, the nearest resistance level was at $0.00009282, where it was previously rejected. Breaking this resistance would provide some support to this upwards movement, with the support point at $0.00008268 the main point supporting the decline.
Floki Breakout Confirmed, Upside Rally in Play
According to analyst WorldOfCharts, Floki Inu ($FLOKI) has successfully broken out of its descending channel, with a clear retest of the previous resistance-turned-support zone near 0.00007800 USDT. This confirmation, as it can be seen in the 8-hour chart, is a sign of bullish momentum.
It is trading at just below 0.00008616, more than 15% higher than the previous session. The breakout zone was a key consolidation zone in the past and currently serves as a springboard towards possible profits.
Source: (X)
The measured move from the breakout points to a 50% upside target near 0.00013000, as highlighted in the chart. Volume and momentum support this projection, and continuation seems likely if $FLOKI holds above the retested level. A sustained close above this zone could trigger further interest from traders eyeing meme coin breakouts.
