MEXCFLOKI Price Prediction: Will the Revolut Listing Propel FLOKI to New Highs?
Highlights
- The FLOKI price breakout from the ascending triangle pattern will accelerate the buying momentum.
- The coin price may prolong its recovery trend until the emerging support trendline is intact.
- The intraday trading volume in the Floki coin is $969.2 Million, indicating a 22% gain.
FLOKI Price Prediction: Floki, the popular dog-themed meme cryptocurrency, has risen for three consecutive days despite the current market consolidation. This bullish turnaround pushed the asset value from $0.000159 to $0.00021 registering a 33% rise. The rising price gave a decisive breakout from the neckline resistance of the ascending triangle pattern, signaling the potential of a higher rally.
Also Read: FLOKI Price Surges 8% Following Bitpanda Index Listing
Triangle Pattern Breakout Sets FLOKI Price For Prolong Recovery
Amid the post-Bitcoin Halving consolidation, a majority of major cryptocurrencies, including FLOKI coin entered a sideways trend since April 19th. This memecoin in consolidation has been capped within $0.000202 and $0.000127 horizontal levels.,m
However, a look at the daily chart shows the FLOKI price developed fresh higher lows signals the buyers attempt to regain control and actively accumulate at dips. Connecting those lows with a support trend revealed the formation of an ascending triangle pattern.
In theory, this chary setup indicates the building of bullish momentum which is released with the breakout of neckline resistance.
Today, the FLOKI price jumped 16% and gave a decisive breakout from the $0.000202 neckline resistance. This rally is likely attributed to the FLoki getting listed on Revolut Business, Europe’s leading neobank and retail trading app, which boasts over 40 million users across more than 150 countries.
This strategic move aims to simplify the process for businesses throughout Europe to purchase FLOKI, potentially accelerating the cryptocurrency’s adoption and fulfilling its vision of becoming the most recognized and utilized digital currency worldwide.
If the breakout sustains, the FLOKI coin raises its value to $0.00026 followed by $0.000031.
Technical Indicators
- Average Directional Index: The daily ADX rising at 24% indicates the consolidation phase assisted buyers in building sufficient momentum for a Higher rally
- BB indicator: The coin price is challenging the upper boundary of the Bollinger Bands, indicating that buyers are currently the dominant force in the market.
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