Crypto analyst Bluntz Capital has highlighted that FLOKI is exhibiting a clear five-wave impulsive move from recent lows on the daily chart—an indication that the bottom may already be in.

The technical chart shared reveals a textbook Elliott Wave 1-2-3-4-5 formation, with the current price action aligning with a potential wave 3 peak. Bluntz noted that he is closely watching the 0.00008556 to 0.00007647 zone, which corresponds to the 50%–61.8% Fibonacci retracement levels, as an ideal area to enter a pullback bid.

This bullish setup, combined with a rising Relative Strength Index (RSI) near overbought territory, supports the momentum behind FLOKI’s move. While meme coins are often viewed with caution, the structural integrity of this move has caught the attention of seasoned traders.

Bluntz also admitted to having a “soft spot” for FLOKI, further reinforcing his bullish stance on the coin as it begins to distinguish itself from the broader meme coin crowd.

With broader market sentiment improving and technicals aligning, FLOKI may be positioning itself for a new rally phase—pending healthy consolidation near support zones.

The post FLOKI Flashes Strong Recovery Signals as Analyst Eyes 50% Pullback Bids appeared first on Coindoo.

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Filed under: Bitcoin - @ May 15, 2025 5:16 pm