$FLOKI
FLOKI price targets 52% surge after retesting key trendline resistance.
FLOKI recently broke out of a key trendline resistance and flipped it into support, potentially laying the foundation for an upside rally in the coming weeks.
According to data from crypto.news, FLOKI surged 40% to a six-month high of $0.000138 on July 17. As of press time, it was trading slightly lower at $0.000129, still up 175% from its year-to-date low recorded in April.
FLOKI’s rally seems to have gained traction after its price broke out of a long-term descending trendline and completed a clean retest on the daily chart. That move, typically seen as a classic bullish breakout, has helped shift market sentiment in favor of the bulls.
The chart shows that FLOKI has been stuck in a downtrend since late 2023, consistently printing lower highs and lower lows. But that trend began to reverse in mid-May when FLOKI started forming higher lows, an early clue that buyers were stepping back in.
The breakout in early July marked a major change in structure, and the successful retest confirmed that the former resistance had now flipped into support.
At the moment, FLOKI is holding firm above the $0.00012 level, comfortably above the trendline it broke out from. That line had capped price action for months, but now appears to be acting as a solid support.
