- FLOKI’s bullish flag pattern targets $0.00064100, $0.00096150, and $0.00128190, indicating potential for substantial gains.
Despite a decline in active addresses, FLOKI’s open interest increased by 11.55%, reflecting rising speculative interest.
As a seasoned researcher with extensive experience in the crypto market, I’ve closely observed FLOKI‘s recent price action and technical indicators. Based on my analysis of the bullish flag pattern, Alex Clay’s predictions, and FLOKI’s bullish technical indicators, I believe that FLOKI has strong potential for substantial gains in the near term.
Over the past week, FLOKI has experienced a noteworthy resurgence, registering a 24.14% growth. This upturn follows a lengthy downtrend, during which FLOKI’s value hit a low of $0.0001875 at the present moment. The price has also risen by 5.19% in the last day.
At present, the trading volume amounts to $459 million, signifying robust market participation. Furthermore, the Total Value Locked (TVL) for FLOKI reaches $26.24 million, implying a substantial base of user interaction and platform activity.
Analyst predictions
Alex Clay noted on X,
As a seasoned investor with a keen interest in the memecoin market, I’ve noticed some intriguing patterns in $FLOKI‘s price action recently. Based on my observations and analysis of its chart, I believe this coin is showing signs of a bullish structure.
These estimated prices represent significant potential profits if the bullish trends persist.
FLOKI’s bullish technical indicators
Based on the Bollinger Bands analysis, it appears that FLOKI‘s price is approaching the upper limit, signaling heightened volatility and potentially continued price growth.
The price was slightly above the middle band, indicating a shift towards bullish momentum.
Additionally, the MACD line’s recent surge above its signal line indicates a bullish crossover event, implying a possible price increase.
At present, the Relative Strength Index (RSI) stands at 57.73 – a figure that is above the neutral level of 50 but falls short of the overbought level of 70. This upward trend in the RSI indicates growing buying pressure, potentially paving the way for additional price increases.
In contrast to the optimistic market outlook, there has been a noticeable decrease in the number of active addresses for FLOKI since mid-March 2024. The current figure stands at 3,820. This trend indicates that user involvement and activity have been on the wane over the last few months.
As a crypto investor, I’ve noticed an intriguing development based on the latest data from CoinGlass. The Open Interest for FLOKI has surged by 11.55%, reaching a total of $21.26 million. This significant uptick suggests that there’s growing speculative interest in this digital asset, potentially indicating a bullish trend.
Realistic or not, here’s FLOKI’s market cap in SHIB terms
Significantly, the funding rate experienced a surge around early June, suggesting a rise in optimistic investor attitudes during that timeframe.
By mid-July, the funding rate has leveled off close to the neutral line, indicating a balanced market attitude where neither bulls nor bears hold significant upper hand.
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2024-07-18 00:08