Is FLOKI Price Ready For A 50% Hike This Summer?

The post Is FLOKI Price Ready For A 50% Hike This Summer? appeared first on Coinpedia Fintech News

With the broader market gaining momentum as BItcoin pumps to $62,000+ levels, the meme coins are making a comeback. Surviving and undermining the weekend crash, the FLOKI price trend is on a smooth uphill journey. 

The meme coin is making a bullish candle and projecting a successful post-retest jump, teasing a huge rally. Will this dog-themed coin manage a 50% jump, as the sideline traders anticipate? Find out a long-term view on this meme coin in our FLOKI price prediction.

FLOKI Price Performance

With an almost 17% jump in the last 24 hours, per coinmarketcap, the FLOKI price is making a comeback with the broader market. Further, it ranks as the second-best performer in the 24H period, behind PEPE, reflecting a surge in the meme coin industry. 

TradingView

In the 1D chart, the FLOKI price trend showcases the wedge breakout rally turning sideways between two Fibonacci levels. However, the overnight jump marks a positive cycle to challenge the overhead resistance. 

With a bullish candle of 8.26% jump yesterday, the bullish momentum sustains, resulting in a 2.68% intraday jump. Currently, the FLOKI price trades at $0.0001883 with increased chances of a 38.20% Fibonacci breakout.

Technical Indicator:

MACD: The MACD and signal lines are merged near the zero line. However, a bullish continuation will prolong the uptrend in average lines.

RSI: The daily RSI line maintains an uptrend and rises from the halfway line, reflecting a demand surge.

Will FLOKI Make A 50% Leap?

As per the trend-based Fibonacci level and the bull cycle in the consolidation range, the $0.00020 mark is a crucial psychological resistance level. A range breakout will boost the uptrend in FLOKI price to potentially reach the $0.00030 mark, a 50% surge in the coming weeks. 

However, a failure to surface above $0.00020 will prolong the consolidation range and risk the $0.0001682 support. A downfall under this will plunge the meme coin to $0.0001280.