FLOKI Meme Coin Presents a Buy the Dip Opportunity While PEPE Could Spike 28%: Price Outlook and Key Levels to Watch
AltFINS, a crypto analytics firm posted an analysis on the price trajectory of Pepe and Floki. Based on the post, Floki’s directions remaind in a downtrend in the short and medium term, while PEPE looks ready to move up. The next paragraphs will explain their outlook on these cryptos
What you'll learn 👉
FLOKI: Mixed Signals Amidst Long-Term Uptrend
FLOKI’s price action presents a complex picture, with mixed trends across different time frames. While the short and medium-term trends are bearish, the long-term uptrend remains intact, offering a glimmer of hope for FLOKI enthusiasts.
Source: altFINS – Start using it today
Source: altFINS – Start using it today
Key Points:
- Recent Achievements: FLOKI recently broke above its previous all-time high of $0.000316, establishing a new higher high – a classic sign of an uptrend.
- Potential Entry Point: A pullback near the $0.00014 support level could present a swing trade opportunity, with a possible 30% upside to $0.00019.
- Momentum Shift: The MACD Histogram is rising, suggesting a potential bullish inflection in momentum.
- Risk Management: Traders might consider setting a stop loss at $0.000125, just below the 200-day moving average.
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The current price action fits the “Pullback in Uptrend” pattern, which could offer a “buying the dip” opportunity for those bullish on FLOKI. However, traders should exercise caution and look for price stabilization at key support levels before entering positions.
Support and Resistance Levels:
Based on the analysis, the next support level is $0.00014 and if that does not hold the price could drop to $0.00011. The next resistance levels stand at $0.00019 and $0.00027.
PEPE: Bullish Breakout Signals Potential Rally
In contrast to FLOKI’s mixed signals, PEPE appears to be positioning itself for a potential bullish rally, according to AltFINS analysis.
Source: altFINS – Start using it today
Key Points:
- Bullish Breakout: PEPE has recently broken out of a Bullish Flag pattern, typically a signal for the resumption of an uptrend.
- Upside Potential: The analysis suggests possible targets of $0.000013 (+11%) or even $0.000015 (+28%).
- Risk Management: A suggested stop loss is set at $0.0000103.
- Momentum: While bullish, momentum may be nearing a peak, as indicated by declining MACD Histogram bars.
The Bullish Flag pattern is considered one of the more reliable continuation patterns in technical analysis. It often forms after a sharp advance and can indicate a brief consolidation before the previous trend resumes.
Based on the analysis, the price is on a bullish trajectory in the short and long term with the next support around $0.0000091 and resistance at $0.000013 and $0.00001.
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Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
