Floki is nearing the end of a 33-day correction while holding key support at $0.00007840.
Analysts see potential double-bottom forming, with targets at $0.00025–$0.00028 if support holds.
Ecosystem growth and upcoming Valhalla launch support renewed bullish momentum toward $0.00015.
The meme-inspired cryptocurrency Floki is entering a critical phase after completing a 35-day bounce and now nearing the end of a 33-day correction. As the price approaches deep-value territory, analysts are watching closely for a potential continuation of the previous upward move. The $0.00007840 level remains pivotal for upcoming price action.
Technical Structure Suggests a Possible Bottom Formation
FLOKI has retraced from its Q2 2024 peak of $0.000346 and is now consolidating near long-standing support between $0.00011 and $0.000096. This zone has previously absorbed selling pressure, offering a possible base for a new wave upward.
https://twitter.com/MacroCRG/status/1933555128247972244
If the support holds, FLOKI may complete a double-bottom pattern and challenge the $0.00025–$0.00028 resistance zone once more. The MACD on the weekly chart currently shows a bearish crossover, but the RSI is gradually recovering from oversold levels.
A bounce from the $0.00011–$0.000096 range may support a shift in market momentum. The token is testing its 38.2% Fibonacci retracement near $0.00013323, suggesting buyers could begin to regain control.
Ecosystem Developments Continue to Support Price Structure
Floki’s expanding ecosystem remains a key narrative, with the upcoming launch of the Valhalla mainnet scheduled for June 30. The project has also secured partnerships and announced a five-week marketing campaign beginning June 16.
According to data from DeFiLlama, total value locked on the Floki network rose to $8.81 billion, showing increased on-chain activity. Social sentiment is also growing. As reported by Shib Knight on X, "Market is silent but Floki is accumulating for the next move."
High Altitude Invest suggests that FLOKI could be entering a wave 3 structure. If so, and if support holds, price may resume its upward trend, with some analysts targeting the $0.00015 level in the short term.
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