Here is an updated technical analysis for Floki (FLOKI) against the US Dollar (USDT) as of this morning, May 12, 2025, focusing on the 4-hour and weekly timeframes.
📊 4-Hour Timeframe Analysis (4H)
🔹 General Trend:
The charts on the 4-hour frame show the formation of a Bullish Flag pattern, which typically indicates the continuation of the upward trend after a period of price consolidation.
🔹 Entry and Exit Levels:
Entry Point: Confirmation of the bullish breakout upon surpassing the previous resistance level of 0.00006767 USDT.
Buy Confirmation: Closing a 4-hour candle above this level with high trading volume strengthens the buy signal.
Take Profit Targets:
First Target (TP1): 0.00007399 USDT (Resistance Area).
Second Target (TP2): 0.00007411 USDT (Major Resistance).
Stop Loss: 0.00006617 USDT (below the previous support area).
This setup offers a Risk-to-Reward Ratio estimated at 3:1, making it attractive to technical traders.
📈 Weekly Timeframe Analysis (Weekly)
🔹 General Trend:
On the weekly timeframe, technical indicators show positive signals:
Moving Averages: 12 out of 15 indicators give 'Buy' signals, reinforcing the upward trend.
Oscillators: Show mixed signals, with a tendency towards neutrality, indicating a balance between buying and selling forces.
This indicates that the cryptocurrency may be in an accumulation phase, paving the way for the possibility of continued upward movement in the medium term.
📌 Summary and Recommendations:
General Trend: Bullish on the 4-hour and weekly timeframes.
Chart Pattern: A Bullish Flag pattern formed on the 4-hour timeframe enhances the likelihood of continued upward movement.
Monitoring Levels:
Entry: Breakout of the level 0.00006767 USDT.
Targets: 0.00007399 USDT and 0.00007411 USDT.
Stop Loss: 0.00006617 USDT.
Alert: Due to high volatility in the cryptocurrency market, it is advised to manage risks carefully and use appropriate stop-loss orders.