World of Charts has provided an optimistic analysis of theFLOKI memecoin’s price movements. The analyst points out that FLOKI is currently trading within a narrowing range, forming a bullish pennant pattern.
This pattern indicates that upward momentum is building and a strong rally could be triggered once the pennant is broken to the upside.
Specifically, the analyst notes FLOKI is displaying a clear bullish pennant formation characterized by declining volatility inside converging trendlines following an initial price surge. The pennant breakout point will arrive if prices surge above the upper trendline, signaling the resumption of the previous upward trend.
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At present, FLOKI is calmly consolidating inside this contracting pennant as trading activity shrinks. But this coiling action also suggests stored energy that may explode higher once the pennant concludes. In the analyst’s view, FLOKI shows classical technicals of a bull pennant implying higher prices could soon manifest.
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Show more +World Of Charts projects a further price increase of 200% following this breakout. If FLOKI follows through on this target, it could experience an additional rally, significantly elevating its price from the breakout point.
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