bullish

Bitcoin

FLOKI

The meme coin Floki (<a href="https://yellow.com/asset/floki">FLOKI</a>) is on its way to a breakout as it rallies to a new all-time high (ATH). The digital asset <a href="https://thecryptobasic.com/2024/11/21/floki-eyes-new-ath-after-128-rally-can-it-break-0-0006/">witnessed</a> a massive 128% gain, which has taken it closer to the $0.00032049 neckline. 
As the crypto market including the meme coin market is rebounding as seen Bitcoin (BTC) crossing the $97000 mark, coins like Floki are experiencing a major surge. 
FLOKI stood out amongst meme coins as it has delivered 700% returns to its holders over the last one year. The digital asset has jumped 7.21% in a single day. 
At present, meme coins have a market capitalisation of $110 billion as they get ready for the upcoming bull run. Amidst this analysts are speculating whether the present crypto market recovery curve and the meme coin rally will push Floki to new heights or not. 
The digital asset's daily chart reveals that the token is experiencing a reverse rally in the last 17 days which made it again 128% during this interval, recovering from the $0.000146 support level. 
FLOKI is aiming to cross the $0.00025 mark which is the 78.60% Fibonacci level as it traded at $0.00026. If this barrier is crossed then the coin will surge further. The bullish engulfing candle pattern vindicated the upward momentum of the token. 
This overnight gain has triggered an uptick in VI lines in the DMI indicator of Floki. The delayed negative crossover resulted in an increase in the ADX line which suggests the upward trend will continue. 
Moreover, the 200-day, 100-day and 50-day exponential moving averages (EMAs) are all positively aligned indicating a bullish trend. Although Floki suffered a minor intraday pullback of 1.30% it is just the token retesting breakout zones. 
The meme coin is well-positioned to challenge the neckline at $0.00032049 as indicated by the rounding reversal price action. 
Once Floki is done retesting, it will target a new ATH beyond the $0.003487 level. The Fibonacci retracement levels are around $0.00042 and $0.00062 which aligns with the 1.272 and 1.618 Fibonacci extensions, respectively. 
However, if the token goes below the 78.60% Fibonacci level it is likely to find support at $0.000227 or $0.00020 levels. 
At the time of writing on November 21, Floki was up 7.83% in the last 24 hours to trade at $0.0002546, while the trading volume rose 155.89% to reach $1.54 billion and the market cap stood at $2.45 billion, a 6.17% increase.

FLOKI Headed For A Breakout, Aims for New ATH After 128% Surge

Yellow News

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