The post FLOKI price prediction – A breakout could be coming thanks to this pattern! appeared on BitcoinEthereumNews.com.

FLOKI is half way into a cup and handle pattern, ONE which has been playing out since June FLOKI whales appear to be accumulating, likely in preparation for the second half of the price pattern FLOKI memecoin might be on the verge of another bull run. It kicked off September with signs of accumulation and recent observations suggest that it may be entering the second phase of its cup and handle pattern. In fact, FLOKI has been moving in an overall bearish trend from its June highs. It recently levelled out within the $0.0001 price range, indicating that the bearish momentum had run its course. However, zooming out also revealed a curve in its price action, more akin to the cup and handle pattern. Source: TradingView The memecoin’s recent bottom range, coupled with the cup and handle pattern, suggested that it could be on the verge of another rally. In other words, its recent price lows were likely the bottom of the price pattern. If that is the case, then it would mean that FLOKI will deliver an overall bullish price action in the next 2 or 3 months. The latest price level in the cup and handle pattern also suggested that the price was in the best accumulation zone, at time of writing. Hence, AMBCrypto looked into whether demand has been building up. Needless to say, the results were quite interesting. FLOKI whales on the hunt On-chain data revealed that FLOKI whales have been accumulating. According to the memecoin’s historical concentration data, whales concluded August with 7.32 trillion FLOKI. Their balances, by 13 September, had gone up to 7.51 trillion FLOKI. Source: IntoTheBlock Retail holder balances also went up from 1.42 trillion coins at the end of August to 1.44 trillion coins by 13 September. Despite the gains in…

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Filed under: News - @ September 15, 2024 12:06 am