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**Floki Inu (FLOKI) Price: Chart Pattern Suggests Major Rally Ahead**
The price of Floki Inu (FLOKI) has seen a remarkable 20% surge in just 24 hours, breaking out of a crucial resistance level. As the token reclaims key support levels and solidifies its bullish trend, a chart pattern suggests that this breakout could be the catalyst for a major rally ahead.
According to trader Edge X, the current market structure indicates consolidation after the strong upward move. This period of price stability may provide an entry point for traders who missed the initial breakout. For FLOKI to reach projected targets, it must first overcome resistance at $0.000059, which has previously acted as a major barrier.
The analysis highlights that demand can still drive significant percentage gains despite the large circulating supply of 9.7 trillion tokens. As Bitcoin’s price correction appears to be ending and capital rotates into smaller-cap coins, the timing of FLOKI’s breakout could not have come at a more opportune moment.
The bullish momentum is further supported by the fact that FLOKI has reclaimed key support levels, providing a foundation for continued upward movement. This validation of the trend would need to be sustained with volume participation to confirm the breakout.
As the market outlook remains positive despite some short-term consolidation following the recent rally, traders are advised to keep an eye on volume metrics and sentiment indicators to ensure that the bullish momentum is not invalidated.
Source: https://coincentral.com/floki-inu-floki-price-chart-pattern-suggests-major-rally-ahead/
