The post FLOKI Breaks Out Of Downtrend: Analyst Predicts New ATH appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Meme coin FLOKI has also benefited from recent inflows into the crypto markets, which has left many cryptocurrencies posting gains in both the 24-hour and seven-day timeframes.  Notably, this inflow has seen FLOKI breaking out of a descending trendline that has served as the peak of its rallies since June. This breakout is seen as a key technical development, with crypto analyst World Of Charts emphasizing it as a strong bullish signal. According to the analyst, the breakout opens the trend for the meme coin to continue the run toward a new all-time high. Related Reading FLOKI Ready For 200% Surge Past All-Time High Although it was launched in 2021, FLOKI rose to prominence earlier this year after it went on a 1,100% increase over five months to peak at a new all-time high of $0.0003449. As it stands, the meme coin has corrected by around 55% from this all-time high.  However, according to analysis and prediction from crypto analyst World Of Charts, this correction is about to end and the $0.0003449 all-time high might not hold for long anymore.  World Of Charts shared his analysis on the social media platform X, posting a daily candlestick chart of the FLOKI / TetherUS trading pair. The chart reveals that the meme coin has just broken above the resistance trendline of a bullish pennant flag pattern, which the meme coin has been trading within since hitting its all-time high. FLOKI is currently trading at $0.00015. Chart: TradingView In terms of the projected price trajectory, the analyst believes FLOKI is on course for another breakout that could not only exceed the previous all-time high but also push toward a price point just below $0.0005. To reach this point, FLOKI would have to go on a 210%…

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Filed under: News - @ October 20, 2024 10:08 pm