FLOKI surged 19% after a bullish breakout, is it about to increase another 45%?

In the past 24 hours, Floki recorded one of the strongest rises to the sky in the market, increasing by 19% and bringing the weekly increase to 31%.

The current rise of FLOKI is expected to continue, as the market trend is opening up a fairly clear roadmap. If market momentum remains strong and buying pressure from traders continues to increase, this price increase could very well extend in the near future.

Where is FLOKI headed?

The recent positive developments of FLOKI began after this memecoin broke through the long-standing downward resistance on the chart.

Notably, the breakout occurred after multiple times FLOKI tested the resistance level, with a total of six approaches to this price range before officially breaking through successfully.

After the breakout, the growth potential is still strong and could rise to the sky up to $0.000284, the highest level of December 2024, although it may encounter some major resistance along the way.

Source: TradingViewMoreover, FLOKI can rise to the sky to 0.000101 dollars, an additional 46.89% compared to the current price.

To start this rise, FLOKI must break through the horizontal resistance at $0.000059, where it may face selling pressure.

Crossing this range will initiate a rise to the sky towards $0.000101. At that time, additional buying momentum will be needed to sustain the upward trend.

Strong momentum and rise to the sky trend

FLOKI continues to show strong momentum, which is reflected through technical indicators.

Parabolic Stop and Reverse (SAR), a tool used to determine whether an asset is in a rising or falling trend and to identify potential reversal points, indicates that FLOKI is on the rise to the sky.

SAR identifies a rising trend when dots appear below the candles. Currently, many dots are forming below this price level, confirming the strength of the market.

Source: TradingViewAdditionally, the Average Directional Index (ADX) – a tool that helps confirm strong or weak trends – also indicates that the current upward trend of FLOKI is still strong.

The ADX line signals a strong trend when it moves upwards and weak when it moves downwards. With the ADX rising and reaching a level of 21.52 at the time of writing, this supports the confirmation of the upward price trend.

The "magnet" milestones ahead

The liquidation heatmap of FLOKI – a tool that displays potential price levels based on unfulfilled market orders – is showing a strong likelihood that FLOKI will continue to rise to the sky in the near future.

Source: CoinglassMillions of unmatched orders are lying ahead, especially in the price range from 0.00007 to 0.00007694 dollars. If FLOKI can break through the current resistance level, it could open a clear path to achieve a rise to the sky of 45%.

With the market momentum still strong, FLOKI is likely to maintain its position as one of the top growth coins in the market.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should do thorough research before making decisions. We are not responsible for your investment decisions.

Minh Anh