According to a cryptocurrency analyst, Floki is still quite positive even if it has been trending lower all week. Analysts devised an overarching strategy for Floki crypto, expecting a 2,000% boom for the famous meme currency and Shiba Inu opponent.
Analysts' Opinion on Floki
Crypto expert Master Kenobi discussed Floki's historical price fluctuations in a recent X post. He found a special recurrent chart structure that might portend a future price increase for the cryptocurrency. If Floki can maintain this recurrent pattern, a significant price rise might occur around the 22nd of October.
The analyst claims that beginning on July 5, 2021, the Viking-themed meme currency dramatically increased by almost 92X over 112 days. This was followed by a lengthy slide of 224 days, when its price plummeted by an astounding 98.5%, hitting its lowest point.
Interestingly, the analyst claimed Floki came into a more organized growth phase following that tactical low point. Kenobi also recognized three price aggregation phases on the Floki diagram, shown by characteristic purple triangles of various lengths but comparable heights.
The analyst revealed that Floki's price actions, indicated by a red triangle, become rather predictable inside those triangles. Since the bottom portion of the red triangle is considered the best area for investors to accumulate, it is the greatest place to enter Floki's next upward advance.
Kenobi discovered a recurrent pattern in which Floki usually left this triangle on October 22 of every year, signaling the start of a fresh consolidation period followed by a significant price increase. He pointed out that 35 days before the development of the previously described red triangle, this price rise is frequently signaled.
FLOKI Upgrades To Look At
Bug patches, enhanced battles, and new features are major updates that can draw in additional gamers. A larger player base encourages FLOKI use, which may increase prices. Future game improvements hold long-term promise, which could act as a price catalyst.
The increased user engagement could increase the market volume and has a higher possibility of opening a long opportunity in this pair.
Floki Price Prediction Technical Analysis
In the daily chart of FLOKI price, the recent price trades sideways, supported by a potential double bottom formation.
In the volume structure, the most significant level since June 2024 is at 0.000122 level, which is below the current price. It is a sign of a buyers presence in the market, which might open a long opportunity in the coming days.
In the daily outlook of FLOKI coin, the ongoing support from the rising trendline support could open a long opportunity after having a daily candle above the 0.000147 level. In that case, the upward pressure could open aiming for the 0.000200 level.
On the bearish side, a valid bearish rejection from the dynamic 100-day SMA could open a bearish opportunity, aiming for the 0.000100 level.
