FLOKI Breaks Free: Soaring 40% and Setting the Stage for a Massive Rally

FLOKI just shattered a crucial trendline resistance, turning it into a solid support. This move could be the launchpad for an epic rally in the coming weeks. Buckle up!

FLOKI (FLOKI) skyrocketed 40% to hit a six-month high of $0.000138 on July 17. Right now, it's trading a bit lower at $0.000129, but that's still a whopping 175% jump from its year-to-date low back in April. This memecoin is on fire!

The rally kicked into high gear after FLOKI broke out of a long-term descending trendline and nailed a perfect retest on the daily chart. That's textbook bullish breakout material, flipping the market sentiment in favor of the bulls. The bulls are charging hard!

Check the chart: FLOKI was stuck in a downtrend since late 2023, churning out lower highs and lower lows. But things started to shift in mid-May when FLOKI began forming higher lows. That's when the buyers started creeping back in, hinting at a reversal.

Then came the breakout in early July—a game-changer. The successful retest sealed the deal, confirming that the old resistance had transformed into a new support. Talk about a shift in power!

Right now, FLOKI is holding strong above the $0.00012 mark, comfortably above the trendline it busted through. That line had been a ceiling for months, but now it's a floor—solid as a rock.

FLOKI also busted out of a descending parallel channel that had been in play since May. That's more fuel for the bullish fire, hinting at even more upside potential. The bulls are in control!

But hold on—there's resistance at the 61.8% Fibonacci retracement level at $0.000167. If FLOKI can close above that level on the daily chart, it could open the door to the 78.6% Fib level at $0.000196. That's a potential 52% jump from where we're at now. Get ready!

Technicals Flash Bullish Signs

From a technical standpoint, the stars are aligning for the bulls. FLOKI just pulled off a golden cross on the daily chart—the 20-day simple moving average crossed above the 50-day. That's a strong bullish signal, folks!

The 20-day SMA has crossed above the 50-day SMA, signaling short-term bullish momentum. That's often the start of a wild rally.

Momentum indicators are also flashing strength. The MACD line is above the signal line and trending upward—a bullish sign of growing momentum. The RSI is at 74, putting FLOKI in overbought territory. But in meme rallies, that often means strong buying pressure, not an immediate reversal.

If there's a pullback, the $0.000102 level, the 50% Fibonacci retracement, could be the next support. Keep an eye on that!

Beyond the charts, there's more fueling FLOKI's rally. Futures market open interest hit an all-time high of $76.7 million, up 88% in just one day. And funding rates have stayed positive for over a week, showing that traders are confident in more upside.

On-chain activity is also exploding. Daily active addresses have more than doubled today, a bullish sign of growing user engagement and network activity. The community is buzzing!

And get this—rumors are swirling about a potential Robinhood listing. No official word yet, but the whispers are enough to stir up investor excitement and drive even more demand for the token. The hype is real!

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.