With price action climbing past a well-defined descending channel, investor sentiment appears to have shifted.

Trading volume has risen alongside the price, offering additional confirmation of renewed market interest. At the time of writing, Floki trades at approximately $0.00008615, following a sharp daily upswing.

Channel Exit Points to Renewed Uptrend Potential

A recent chart shared by Crypto Avi (@crypto_tech_avi) on X highlights Floki’s decisive breakout from its descending channel. This formation had limited upward price action since early May, creating a pattern of lower highs and lower lows.

The breakout occurred at the $0.00008372 level, above the upper trendline, which had acted as resistance throughout the pattern. By moving beyond this structure, Floki signals a shift in sentiment and a potential transition into a bullish phase.

Source: X

Positioning above the 50-day moving average adds weight to the breakout confirmation. This dynamic indicator had consistently acted as resistance during the downtrend but now supports the new upward trajectory.

Based on the height of the previous channel, Crypto Avi projects a possible 50.29% price increase from the breakout point, targeting the $0.000126 zone. The forecast is consistent with traditional pattern-measuring techniques used to estimate post-breakout movements.

Price Movement Backed by Rising Volume Activity

The 24-hour trading session reflects a strong market response following the breakout. Floki surged from $0.00007001 to an intraday high of $0.00008666, ending the day with a gain of over 15.85%.

The consistent formation of higher lows during the session, combined with minor resistance breakouts, shows an orderly accumulation phase. Such a structure suggests that the rally is not being driven by short-term speculation alone, but also by steady buyer interest.

Source: BraveNewCoin

Trading volume rose sharply to $241 million, accompanying the price movement and providing confirmation of participation from broader market players. The increase in volume during upward movement indicates conviction among buyers, while the closing price near the session high reinforces bullish strength.

Floki’s market capitalization has also increased, now exceeding $835 million, as renewed interest continues to grow across the meme coin sector.

Technical Indicators Support Bullish Setup

On the daily chart, price action is now trading above the midline of the Bollinger Bands and approaching the upper band resistance near $0.00008480. This shift marks a technical breakout from consolidation and implies increasing market volatility.

Bollinger Band expansion, paired with strong daily closes above key moving averages, suggests the beginning of a trend acceleration phase.

 

Source: TradingView

Supporting this move is the MACD indicator, which has recorded a bullish crossover. The MACD line has moved above the signal line, while the histogram continues to print positive values. This combination typically precedes upward continuation when supported by volume, which is currently present.

Analysts now point to a near-term target range of $0.00010–$ 0.00012 if momentum continues and broader market conditions remain favorable. Floki’s ability to hold above $0.00008300 will likely determine the sustainability of this breakout move.

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Filed under: Bitcoin - @ July 7, 2025 7:45 pm