The post FLOKI price eyes bullish continuation as correction targets major support zone appeared on BitcoinEthereumNews.com.

FLOKI has flipped its 200-day moving average into support, marking a significant trend reversal. Price is now correcting into a confluence of technical levels, setting the stage for a potential explosive move higher. After weeks of upward momentum, Floki (FLOKI) is beginning to retrace — but the correction looks more bullish than bearish. The meme coin has broken out of long-term suppression under the 200-day moving average, and the recent pullback appears to be a setup for continuation rather than weakness. The next major support zone lines up with several key technical indicators, giving traders a strong level to watch for a higher low to form. Key technical points 200-Day MA Flipped Into Support: FLOKI has broken and closed above its 200-day moving average, confirming a shift in long-term market structure. Support Confluence Zone Below: The current correction is targeting a region where the upsloping channel support, 0.618 Fibonacci retracement, swing low, and value area low all align. Potential for Aggressive Bounce: If support holds, price could revisit the channel high in an impulsive move, as seen during previous rallies. FLOKIUSDT (1H) Chart, Source: TradingView FLOKI’s breakout above the 200-day moving average was a major development for bulls, confirming that the long-standing downtrend has been broken. Price action was impulsive during the breakout and accompanied by strong volume, suggesting genuine market interest. The coin has now begun to retrace, but this appears to be a standard corrective structure, a higher low forming before continuation. The area just below the current price carries significant technical weight. The upsloping channel support lines up closely with the 0.618 Fibonacci retracement of the recent rally, the value area low from the current range, and a key swing low. This creates a high-confluence support zone, which often acts as a magnet for price and a…

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Filed under: News - @ May 14, 2025 11:25 pm