The start of the week displayed a momental shift from the top and most popular tokens to the memcoins. The Pepe price led the markets with its strong performance and marked new highs in a short time frame. Besides, FLOKI slowly surpassed all the top gainers, showing a potential to range by over 200% in the next few days.
After fighting the bearish influence for a certain period, the FLOKI price triggered a fresh breakout above the bearish range. This move has attracted massive liquidity to the token as the buying volume has soared for the past few days. The rising price levels suggest less interference from the bears as selling volume has dropped to a large extent.
With this, can the FLOKI price form a new ATH above $0.0004 this month?
The FLOKI price has broken above the decisive symmetrical triangle after attempting it for a couple of days. The buying volume soared to a large extent, suggesting the token received immense attention from the bulls.
After a successful breakout, bulls may be expected to remain consolidated as a result of buying fatigue. However, the technicals display a diverse trend, laying down a strong foundation for a fresh bullish upswing, intending to mark a new ATH.
The Ichimoku cloud has just flashed a bullish signal as the lead span B and span A is about to undergo a bullish crossover. On the other hand, the MACD ranges towards the bullish range after slumping to the negative range.
Therefore, the FLOKI price is expected to maintain a healthy upswing and reach the upper resistance zone between $0.00025 and $0.00026 initially, which may trigger a strong upswing above $0.0003. As the price enters the discovery phase, a new ATH above $0.0004 could be imminent, probably in the next few weeks.
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