With a breakout rally struggling to gain momentum, can Floki break through and set a new all-time high in this bull run?
As the broader market recovers, the memecoin sector is seeing strong performers, with Floki standing out. The token’s price action indicates a bullish recovery, pushing it above the key $0.00020 psychological level.
However, the rally hits a roadblock as it approaches $0.00025. Does this mean we will see a retest of $0.00020 before Floki attempts a new all-time high?
Floki Price Analysis
Starting from the $0.000117 mark, FLOKI has increased by 111% over the past 10 days. FLOKI currently trades at $0.00023621 with a minor intraday gain of 0.50%. This reveals a doji candle in making as it faces higher price rejection from the $0.00024985.
Floki’s price action reveals nine bullish candles over the past ten trading days as the buying pressure grows. This has increased the chances of a golden crossover between the 50-day and 200-day simple moving average lines.
Furthermore, the rising histograms in the MACD indicator lead to a positive trend in the average line. Thus, the technical indicators remain optimistic about the future Floki price trend.
Valhalla Partners with Dubai Mall of the Emirates
Floki’s sentiment received a boost thanks to a new partnership between Valhalla Gaming and the Dubai Mall of the Emirates, which led to an 11.44% price spike yesterday.
As part of the deal, Valhalla’s branding will be showcased across 93 screens in the Dubai Mall from November 15 to December 12. This campaign aims to promote Valhalla Gaming and increase adoption in the UAE.
Moreover, the team has teased a significant marketing announcement scheduled for 6 PM UTC on November 14.
Will Floki Price Cross $0.00032?
The formation of a doji candle suggests a potential halt in the current bullish momentum, signaling a possible evening star pattern. This could lead to a retest of the $0.00020 psychological mark.
However, the recent breakout of the psychological mark reveals a change of character for Floki’s price trend. Hence, a post-retest reversal for Floki will likely result in a new all-time high above $0.0003487.
Based on the price action analysis, the supply zone ranging from $0.0002986 to $0.000322 could result in a minor sideways shift. Using the Fibonacci levels, the price targets above the current all-time high are $0.00044 and $0.00064 or the 1.272 or 1.618 Fibonacci levels, respectively.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
