Lokesh Gupta
15-05-2024
#Floki's price shows a breakout from a falling wedge pattern, suggesting a reversal from prior bearish sentiment.
A double-bottom pattern has emerged, heightening bullish momentum, typically indicating a shift from downtrend to uptrend.
FLOKI's price has surpassed the 38.20% Fibonacci level, now at $0.00020, often indicating robust buying pressure or resistance.
The breakout is affirmed by a second bullish engulfing candle, strengthening the bullish sentiment.
Crossing above the neckline at $0.0001930 validates the double-bottom pattern, hinting at further upward movement.
Additionally, FLOKI has broken out of a bullish pennant pattern, reinforcing the bullish bias in the market.
According to Coingabbar analysis, Fibonacci extension levels suggest FLOKI could target $0.00030 in the short term, indicating significant upside potential.
In case of a pullback, key support levels are identified at $0.0001682 and $0.0001280, while failure to break above the 50% Fibonacci level may lead to a prolonged consolidation phase.
KEY LEVELS :
RESISTANCE LEVEL : $0.00025000-$0.00032000
SUPPORT LEVEL : $0.00016000-$0.00012000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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