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Floki Crypto News: Price Hits 6-Month High After Bullish Breakout
Floki Crypto News – FLOKI has captured the attention of traders this week after breaking out of a long-term trendline and surging to a six-month high. The memecoin jumped 40% to reach $0.000138 on July 17, before pulling back slightly to trade around $0.000129 at press time. Despite the minor dip, FLOKI is still up an impressive 175% from its April lows, signaling renewed bullish momentum.
The breakout above the descending trendline resistance, which had been capping price action since late 2023, is being viewed as a classic bullish reversal. Analysts say the clean retest of this trendline has now flipped it into support, giving bulls solid ground to push for further gains.
Technical Indicators Turn Bullish
The daily chart paints a compelling picture. After months of printing lower highs and lower lows, FLOKI began forming higher lows in mid-May, a key signal that buyers were returning. The major breakout in early July confirmed the structural shift, with the price now holding above $0.00012—a critical level that aligns with the old trendline.
Adding to the bullish case is the recent golden cross on the daily chart, where the 20-day simple moving average (SMA) crossed above the 50-day SMA. This is widely considered a strong bullish momentum signal, often preceding larger upside rallies.
Momentum Building Across the Board
Momentum indicators are also flashing green:
- The MACD line is trending above the signal line and pointing upward—an indicator of growing buying pressure.
- The RSI (Relative Strength Index) currently sits at 74, indicating overbought territory, but in meme-driven rallies, such levels often suggest continued strong bullish sentiment rather than a sharp reversal.
Even with current momentum, traders are keeping an eye on the $0.000167 resistance level, which lines up with the 61.8% Fibonacci retracement. A daily close above this could open the door to $0.000196—the 78.6% Fib level, representing a potential 52% upside from current prices.
FLOKI’s Futures Market Hits All-Time High
Beyond technicals, on-chain and derivatives data are supporting the rally. According to data from crypto.news, FLOKI futures open interest has hit a record $76.7 million, up 88% in just 24 hours. This massive increase shows that traders are heavily positioning for further upside.
Moreover, funding rates have remained positive for over a week, indicating that long positions dominate the market and trader sentiment remains bullish.
On-Chain Activity Soars as Users Pile In
On-chain metrics also point to increased user activity. Data from Nansen shows that daily active addresses have more than doubled today. That’s a bullish sign that suggests growing user engagement and stronger network utility—two crucial ingredients for sustained rallies.
Robinhood Listing Rumors Stir the Hype
Speculation is also swirling about a potential Robinhood listing for FLOKI. While no official statement has been made, the rumor mill on X (formerly Twitter) has kicked into high gear, with traders speculating that the popular meme coin could soon land on one of the most widely used retail trading platforms.
Such a listing would mark a major milestone for FLOKI and could lead to significant retail inflows, similar to what happened with other meme tokens like SHIB and DOGE after they were listed on Robinhood.
What’s Next for FLOKI?
With bullish momentum building across multiple fronts—technical breakout, on-chain engagement, futures market support, and exchange listing rumors—FLOKI is setting up for what could be a significant upside continuation.
However, traders should remain cautious around key resistance levels, particularly the $0.000167 and $0.000196 Fibonacci zones. A failure to break through those could result in a short-term pullback, with $0.000102 (the 50% Fibonacci retracement) acting as potential support.
For now, all eyes are on FLOKI as it attempts to ride the meme wave higher—and possibly into the hands of millions more if a Robinhood debut materializes.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
