- FLOKI breaks the descending trendline and trades at $0.0001116, supported by higher lows and strong breakout confirmation.
- Entry is marked at $0.00010904, with a 9.34% take-profit target at $0.00011713 and stop-loss at $0.00010158.
- RSI near 69.25 and bullish MACD crossovers indicate sustained buying momentum above key support levels.
The recent technical setup for FLOKI/USDT suggests a break from its established bearish structure, following a sustained downtrend across the latter part of July. On the 4-hour chart from TradingView, the asset has breached a prominent descending trendline, with price action forming higher lows near $0.000104.
FLOKI now trades at $0.0001116, coinciding with a 24-hour resistance level and a 14.6% decline over the past week. This shift comes with reinforced support and potential for a recovery swing, provided price sustains above the breakout zone.
Breakout Setup Defines Entry, Target, and Stop-Loss Levels
According to the chart setup, the ideal entry point is marked at $0.00010904. From this level, the take-profit (TP) target stands at $0.00011713, reflecting a 9.34% potential upside. The stop-loss is placed at $0.00010158, just below the most recent support level.
This risk-managed setup reflects a breakout-based trade, with the breach of the trendline acting as the initial confirmation. Price movement beyond the stop could invalidate this setup, while a continuation above resistance may trigger higher price movement.
This setup follows multiple rejections at lower levels before momentum reverses. Now, price remains range-bound between $0.000104 and $0.0001116, awaiting either confirmation or failure of the breakout.
Technical Indicators Confirm Upward Momentum
The 1-hour chart’s Relative Strength Index (RSI) shows values of 61.73 positioning the asset near overbought territory. This confirms buying pressure, though a consolidation phase may follow. Meanwhile, the MACD histogram and lines show bullish crossovers with values of 0.00000020 and 0.00000125, alongside a red signal line at 0.00000105. This spread illustrates upward momentum gathering pace as price attempts to hold above the previous resistance line.
Source: TradingView
Each candle formation above the trendline indicates growing strength. However, pressure around the $0.0001116 mark may dictate short-term direction. Should volume confirm, further upside towards the target is structurally supported, pending broader market stability. The setup remains active so long as support levels hold and RSI avoids sharp retractions.FLOKI’s breakout remains valid while p rice holds above support . Traders will watch resistance and momentum indicators closely to confirm sustained strength or potential consolidation within the current range.
