The post FLOKI eyes potential gains of 24%, but how might it play out? appeared on BitcoinEthereumNews.com.

FLOKI formed a bullish technical pattern known as the cup and handle pattern – A sign of a rally A golden cross pattern surfaced on the chart too, with accumulation of the asset growing across the spot market Floki [FLOKI] has shown a level of bullish sentiment in the market lately, with a rally of 2.42% gradually attempting to defy its previoius month’s drop of 12.27%. In fact, several bullish indicators have surfaced on the chart, revealing that the current leg up could extend further as market participants continue to buy FLOKI. Bullish pattern could be a rally launchpad The press time formation of the cup and handle pattern on the chart seemed to be an indication of an incoming rally. Such a pattern typically precedes a major move to the upside. According to this analysis, this rally could be a potential launchpad for major price gains of 24.82% to $0.00006711 from its press time price level. Source: TradingView However, the rally would fully ignite once FLOKI breaches the black resistance line on the chart. Once it breaches the level, it could hit the target. Technical indicators pointed to a possible upside too. Two key tools—Moving Average (MA) Ribbon and Parabolic SAR—seemed to support this view. The MA Ribbon includes multiple Simple Moving Averages (SMA) – 20, 50, 100, and 200. At the time of writing, it was reflecting a degree of bullish sentiment. This outlook was further confirmed by a golden cross pattern. The short-term SMA 20 also crossed above the long-term SMA 200. Such a crossover means that short-term traders have been overpowering the long-term bearish trend. Source: TradingView The Parabolic SAR also added to this bullish wave for FLOKI. This indicator uses dots to determine the trend. This is the case when these dotted markers appear above…

---

Filed under: News - @ April 12, 2025 4:22 am