Against the backdrop of a broader crypto market recovery sentiment brewing, Floki price remains much eyed by investors as renowned crypto analysts forecast a bullish outlook for the token. Notably, market experts ‘Ali Martinez’ and ‘Bluntz’ have recently predicted that the dog-themed meme coin awaits a massive price breakout in the coming days. These bullish projections are primarily attributed to technical patterns on the price chart.
Top Analysts Predict Floki Price Breakout Looms
Crypto market analyst Ali Martinez has conveyed in an X post on February 15 that Floki price looks ready for a rebound, although the key target remains $0.000042. This statement, hinting that price gains for the meme coin await, echoed a market buzz primarily mirroring optimism amid a bullish crypto landscape as the week closes. Although the $0.000042 level is marked as a key support, the token currently trades considerably above this level.
Further, renowned market expert Bluntz took to X, spotlighting a couple of strong technicals for the meme token. The analyst reveals that the asset’s price chart shows a ‘nice ascending triangle’ pattern, indicating that buyers are pushing to cross the current resistance. Given this resistance is breached, the meme coin could see remarkable price gains ahead.
Also, the ascending triangle formation follows a bullish divergence setup that flags the potential for further upside action, per the analyst. Overall, these optimistic Floki predictions promptly gained significant traction as the broader crypto market showed potential for further gains.
Crypto Market Reflects Recovery Sentiment
It’s worth taking into account the broader crypto prices upswing on Saturday despite the macroeconomic heat. While Bitcoin held around $98K, meme coins embarked on a significant rising action. DOGE pumped over 4% to the $0.27 level, whereas SHIB and PEPE also traded dominantly in the green. In turn, even Floki saw an upside action, further garnering investor enthusiasm amid the bullish predictions.
FLOKI Price Action Today
At the time of reporting, FLOKI token’s price gained roughly 2% and is currently trading at $0.00009871. The coin’s 24-hour low and high were $0.00009702 and $0.0001046, respectively. Trading volume for the asset jumped 23.17% to $163.1 million, aligning with the rising intraday movement.
Further, even the coin’s futures OI jumped 2% to $17.44 million, per Coinglass data. Also, the derivatives volume surged nearly 19% to $26.92 million. Altogether, the derivatives market data indicated a heightened investor appetite for the asset. This has added to optimistic market sentiments surrounding the token’s future price movements, in line with the abovementioned predictions.
The post Floki Price Gearing Up For Massive Rally; Analysts Hint At Looming Breakout appeared first on CoinGape.
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