The Floki coin in the daily chart shows signs of a trend reversal as the prior sideways price action started forming new higher highs and higher lows. Moreover, if we connect the lows of the ongoing price rally, we see a new ascending trendline supporting the bullish recovery. Here’s how trades may use support to prolong a sustained bull run.
Key Points:
The rising trendline may carry a sustained recovery in the FLOKI price
The potential breakout from $0.000041 resistance may accelerate the buying momentum in the market.
The intraday trading volume in the Floki coin is $51.2 Million, indicating a 33% gain.
Source- Tradingview
On May 11th, the Floki price rebounded from the aforementioned support trendline with a morning star candle. This reversal candle pattern at strong support may increase the buying pressure in the market and more likely push the memecoin to higher levels.
With sustained buying, the FLOKI price may surge 12% to breach the immediate resistance of $0.00004. This p
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