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FLOKI is up over 10.75% after bouncing from key support. With a bullish trend in place, all eyes are now on a major resistance level that could trigger a 22 percent continuation move. FLOKI coin (FLOKI) has shown impressive strength, gaining 10.75 percent in recent trading sessions. This surge followed a successful reclaim of a high time frame support zone while maintaining a bullish market structure. While the broader trend favors further upside, the next phase of the rally hinges on a critical technical resistance level. A breakout could fuel a strong move toward the upper boundary of the current trading channel. Key technical points Support Reclaim: Price bounced from 0.9030 sats, a key zone aligned with the 0.618 Fibonacci and channel low. Major Resistance Ahead: 0.1144 sats is the next critical level; a break could fuel a 22% rally. Apex Zone Forming: The 21 EMA and resistance are converging, hinting at an imminent breakout. FLOKIUSDT (1H) Chart, Source: TradingView The move began after FLOKI defended the 0.9030 satoshi level, which aligned with both the 0.618 Fibonacci retracement and the lower boundary of a parallel channel. Multiple successful tests of this zone confirmed its role as a valid support level and launchpad, propelling price toward the current resistance at 0.1144 sats. This resistance marks a key pivot in FLOKI’s bullish setup. It not only represents a horizontal high time frame resistance but also coincides with the channel’s midpoint, a level that often dictates trend continuation or rejection in range-bound markets. A confirmed breakout and close above this midpoint would significantly raise the probability of a continuation move toward the channel high, implying a potential 22 percent upside. Adding to the setup, the 21-period moving average is rising into the price range, acting as dynamic support. With this moving average converging…

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Filed under: News - @ May 23, 2025 4:26 am