FLOKI Demonstrates a Massive Run, Barges Through the Resistance: Will It Make It to $0.0003?

FLOKI Demonstrates a Massive Run, Barges Through the Resistance: Will It Make It to $0.0003?

While the crypto markets remain relatively stable despite bullish events, memecoins have once again taken the spotlight. Pepe, Bonk, and FLOKI have experienced significant price increases, indicating a positive sentiment among market participants.

FLOKI, in particular, has broken above its ascending consolidation and secured levels above a crucial resistance zone. Trading volume has surged by over 200%, propelling the market cap and coin value by more than 20%.

Despite a bearish start to the day, FLOKI has rallied with strong buying pressure. The price broke above a symmetrical triangle and is now targeting highs of $0.0003.

Can FLOKI Reach $0.0003?

The daily chart shows a clear breakout from an ascending channel, supported by increased volume. The DMI is bullish, and the stoch RSI is approaching the upper threshold. However, reaching $0.0003 may prove challenging, as bears have begun to take profits.

Despite this, the short-term price action remains bullish. The price has held up well after encountering bearish pressure, suggesting that bulls may continue to drive it higher.

A bullish close above $0.000275 or $0.00028 could keep FLOKI within a bullish range. Bulls have maintained a strong grip on the rally, and the coin is poised to reach a new ATH in the near future.