FLOKI has rebounded from a key Fibonacci level, but price action still sits in a high-stakes zone. One more move lower could complete a pattern that flips the script to bullish.
Key Highlights:
Price rejected from HTF resistance after bounce
0.618 Fibonacci offered strong short-term support
A liquidity sweep below recent lows could complete a bullish structure
FLOKI’s recent bounce off the 0.618 Fibonacci retracement was clean, but not yet convincing. After failing to break through high time frame resistance, price is now trading in compression, coiling between strong support and overhead resistance.
Technically, this kind of behavior often precedes a decisive move. One concern is the uncollected liquidity still resting just beneath the previous swing low. From a market structure standpoint, this opens the door to one more leg down—potentially into the same Fib zone—to flush weak hands and form a base.
This would complete what resembles a bullish three drives pattern, with each low sweeping liquidity more efficiently. If the third drive plays out and buyers step in aggressively, we could see a clean shift in structure—especially if price can break above the VWAP and reclaim the value area high.
Keep a close eye on the $0.618 zone. A final wick down into liquidity followed by strength could confirm a reversal and set the stage for FLOKI’s next breakout.