FLOKI Price Prediction: Will FLOKI Make a Comeback After the Recent Bullish Turnaround?

FLOKI has demonstrated a significant recovery, marking a 24.14% increase in the last seven days. This turnaround comes after a prolonged bearish trend

FLOKI price continues to show signs of recovery, with a 24.14% increase over the past seven days. This marks a significant turnaround from the prolonged bearish trend.

At press time, FLOKI trades at $0.0001875, showcasing a 5.19% increase over the past 24 hours. The trading volume also surged, reaching $459,097,728, indicating strong market interest in the meme coin.

Furthermore, the Total Value Locked (TVL) for FLOKI stands at $26,239,515, indicating a strong foundation of user engagement and platform activity.

According to X, analyst Alex Clay noted the following technical analysis on X, highlighting potential targets for上涨趋势 if the bullish patterns continue.

“$FLOKI another memecoin with a bullish structure. Re-accumulating in the form of a bullish flag below all-time high resistance. Targets: $0.00064100, $0.00096150, $0.00128190.”

FLOKI price technical analysis: Bullish indicators

Bollinger Bands indicate that FLOKI price is testing the upper Bollinger band, suggesting increased volatility and a continuation of the upward trend.

The price is also positioned slightly above the middle Bollinger band, indicating a shift towards bullish momentum.

Moreover, the MACD line has recently crossed above the signal line, forming a bullish crossover, suggesting potential upward momentum.

From the above chart, the RSI is at 57.73, which is above the neutral 50 mark but still below the overbought threshold of 70.

The upward trend in the RSI suggests increasing buying interest, which may lead to further price gains.

Active addresses for FLOKI have declined significantly since mid-March 2024, with 3,820 addresses currently active.

This marks a decrease in user engagement and activity over the past few months.

However, Open Interest has increased by 11.55%, reaching $21.26 million, indicating rising speculative interest in FLOKI, asوضح CoinGlass data.

Interestingly, there was a spike in the funding rate around early June, indicating bullish sentiment during that period.

However, as of mid-July, the funding rate has stabilized near the neutral line, indicating neither strong bullish nor bearish tendencies.

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