FLOKI/USDT Technical Analysis: Potential for a 100% Rally!

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Now, let’s dive into this chart analysis:

FLOKI is 57% below its all-time high of $0.000349. Currently, it is holding decent support at $0.000155, and a bounce-back is likely. The 200 EMA stands as resistance at around $0.000195 for FLOKI.

The RSI is currently at 40.01, suggesting that the price is in the neutral zone. There is room for upward momentum before reaching overbought conditions, which supports the bullish outlook.

Historical Price Movements:

~ First Bullish Leg (March 2024): The price surged by 162.82%, breaking out from a consolidation pattern and hitting a high of 0.00018581 USDT. This significant upward movement indicates strong buying interest.
~ Second Bullish Leg (May 2024): After a correction, the price saw another substantial increase of 154.55%, reaching 0.00019760 USDT. This confirms the ongoing bullish sentiment in the market.
~ Third Bullish Leg (Projected): The projected price action suggests a potential rise of 117.71%, targeting 0.00018233 USDT. This projection is based on the continuation of the ascending channel pattern and historical performance.

Invalidation Point: A breakdown and close below the mentioned support line.

DYOR. NFA.

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