- FLOKI confuses predictions as the meme coin consolidates inside a parallel channel.
- $0.0001167 remains a crucial Floki Inu’s level as it may determine the alt’s directional intentions.
- Bulls might target an 82% surge if they secure a dependable footing beyond the critical defense line.
Floki Inu (FLOKI) trades at a pivotal level as everyone watches the canine-themed, waiting for it to reveal directional intentions. Breaking beneath the $0.0001167 barrier will have bulls suffering while discovering a support zone beyond the level might have Floki Inu eying an 82% explosive move to the upside.
FLOKI Price Still Indecisive
The 12Hr price chart shows Floki Inu printing a parallel channel. That comes as the dog coin moves without directional bias. The meme coin approaches its prevailing chart pattern’s bottom boundary at $0.0001167, which serves as a break-or-make level for the alt.
If the FLOKI price manages to maintain above the parallel channel’s downside trend-line, bulls will sail without hurdles, surging 82% towards the primary technical patterns upper border near $0.0002205. FLOKI would encounter the closest resistance level at the 23.6% FIB retracement area of $0.0001430.
Additional hurdles might emerge at 21 12Hr Simple Moving Average near $0.0001534, then $0.0001605, where 50 12HHr Simple Moving Average, 38.2% FIB retracement, and the prevailing chart formation intersect.
More resistance might showcase at 61.8% FIB retracement zone at $0.0001889, matching with 100 12Hr Simple Moving Average. Before the meme coin attains its bullish aim, FLOKI may encounter a hurdle near 78.6% FIB retracement of $0.0002090.
Nevertheless, if Floki Inu drops under the parallel channel’s lower border at $0.0001167, Floki Inu might meet a bearish aim, eying a 46% crash to $0.0000625, the prevailing chart pattern’s projection. FLOKI will have its initial defense line at 28 October low near $0.0000967, then 17 October peak at $0.0000748 if its encounters more downside momentum.
For now, Floki Inu’s price actions appear to confuse investors. The altcoin’s fate determines in its actions at the $0.0001167 mark. A break below this area will mean a massive fall, while bulls can initiate an 82% surge with dependable support above this critical defense line.
Where do you see Floki Inu in the upcoming sessions? You can comment below.