After hitting a four-month low, Floki Inu (FLOKI) could be on the brink of a major price surge. The token’s current chart pattern hints at a potential 200% rally, as a symmetrical triangle formation suggests a breakout could be imminent.
FLOKI Surges After Trump’s Election Win
The broader crypto market rally, following Donald Trump’s recent election victory, has lifted many altcoins, including FLOKI. On November 6, FLOKI’s price jumped from $0.00012 to $0.0001479. This recovery followed a sharp dip to a two-month low of $0.0001149 on November 5. The price surge highlights the renewed bullish sentiment in the market.
Currently, FLOKI is trading at $0.0001424, up nearly 1% in the last 24 hours. Despite recent struggles, analysts believe the token could be gearing up for a significant 200% rally in the coming days.
Why FLOKI Price Could Surge 200%
FLOKI’s price action has shown a gradual increase of about 5% this week. A crypto analyst suggests that the ongoing consolidation phase may soon end with a breakout, paving the way for a new bullish wave. The price is currently consolidating within a tight bullish pennant range, a strong signal for an upcoming uptrend.
During this consolidation phase, FLOKI’s price has moved 59% away from its all-time high (ATH) of $0.0003462 set in May. Multiple symmetrical triangles have formed, indicating the possibility of a tight bullish pennant pattern. Once this pattern completes, a strong bullish rally typically follows.
Bullish Technical Indicators for FLOKI
The technical indicators for FLOKI point to a bullish outlook. The 24-hour trading volume has risen to $229.44 million, suggesting increased buying interest. Key indicators like the Relative Strength Index (RSI), Moving Averages, and MACD all support a bullish trend.
The RSI is currently at 52.2, indicating growing strength without entering the overbought zone. Both the Moving Averages and MACD are in the buying zone, signaling a potential crossover that could boost the rally.
Will FLOKI Holders See Big Gains?
Floki Inu investors have been eagerly waiting for a price surge, especially after the token’s decline from its ATH in May. With renewed optimism in the crypto market, fueled by Trump’s pro-crypto stance, the chances of a significant FLOKI price rally are increasing.
A breakout from the current pennant pattern could push the token into a 200% uptrend. If this happens, long-time holders might finally see their investments recover or even turn profitable. However, the extent of the rally remains uncertain, as market conditions and various factors could still affect the outcome.
Final Thoughts
FLOKI’s chart patterns and technical indicators suggest a strong potential for a breakout rally. While the bullish sentiment is building, investors should remain cautious and watch for confirmation of the uptrend. A successful 200% rally could be a game-changer for FLOKI holders, but market volatility is always a factor to consider.
