Floki Inu Breakout Trade: Buy at these levels!

Floki Inu is trading in a narrow channel and is giving signs of breaking out. The potential trade can deliver more than 20% returns.

Price is trading in a Channel Up pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines.

With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.

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FLOKI Inu Price Analysis

• Latest Price: $0.0001343
• Market Cap: $1,303,604,778
• 24h Trading Volume: $191,772,540
• Circulating Supply: 9,686,002,461,802 FLOKI
• Total Supply: 10,000,000,000,000 FLOKI

Following a breakout from Falling Wedge pattern, trend have reversed to Uptrend. Now it’s trading in a Channel Up pattern. Upside potential to $0.00019. Stop Loss at $0.12.

Weekly Price Analysis

Over the past week, FLOKI has shown a decrease of approximately 3.86%.

• 24h Low/High: $0.0001346 / $0.0001431
• Price Change (24h): -3.25%
• Price Change (7d): -3.86%
• Market Cap Rank: #68
• Trend: Short-term trend is Strong Down, Medium-term trend is Neutral, Long-term trend is Neutral.
• Momentum: Price is neither overbought nor oversold currently.
• Support and Resistance: Nearest Support Zone is $0.00013, then $0.0001. Nearest Resistance Zone is $0.00019.

Technical Indicators

• Moving Averages: FLOKI maintains a positive stance with most short-term moving averages (MA3, MA5, MA10) indicating buy signals. However, its 50-day moving average is slightly bearish.
• Relative Strength Index (RSI): Currently at 49.04.
• MACD and ADX: MACD shows neutral.

Market Sentiment and News Roundup

FLOKI’s market sentiment is currently positive, as reflected by a Fear & Greed Index score of 73 (Greed).

FLOKI has partnered with Premier League club Nottingham Forest, boosting its visibility and brand association.

Analysts speculate a potential price increase, possibly reaching $0.000198

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