The Vikings are knocking at the gates! After a strong recovery from the June lows, FLOKI is now challenging the major downtrend resistance that has been holding it back. This is the moment of truthโa successful breakout here could unleash a massive wave of buying pressure.
Don't wait for the move to be over; the setup is forming right now.
๐ The Bullish Case (Why FLOKI is Coiling for a Move)
๐น Critical Resistance Test: The price is pushing directly against the key downtrend line from the May peak. A clean break above this line is the ultimate signal that the bulls are back in full control.
๐น Powerful Momentum: The sharp rally from the 0.00006000 area demonstrates that buyers have re-emerged with force, absorbing all the selling pressure.
๐น Higher Low Established: The market has successfully carved out a higher low, signaling a potential shift in market structure from bearish to bullish. This is the foundation for a new uptrend.
๐น Explosive Potential: A breakout above this long-term trendline would invalidate the bearish structure and open the door for a rapid move towards previous highs, offering an incredible risk/reward setup.
๐ The Trade Recommendation:
This is a classic breakout setup. We wait for confirmation and then ride the momentum.
โ BUY: On a confirmed daily candle close above the trendline (approx. 0.00009500)
๐ฏ TP1: 0.00010500 (Next level of resistance)
๐ฏ TP2: 0.00012000 (Targeting the previous major high)
๐ SL: 0.00008500 (A tight stop below the recent local support)
๐ฅ The Bottom Line: The pressure is building. FLOKI is at a pivotal point. A breakout is imminent, and you want to be ready when it happens. This is your chance to catch the very beginning of the next major rally.
๐ Will FLOKI smash through this resistance this week? Let me know your thoughts! ๐
โค๏ธ Like if you're ready for the FLOKI breakout, and follow for more high-impact trade ideas
