While Floki Inu Price Explodes, These Lesser-Known Altcoins Could 10x

cryptonews.com:

Floki Inu (FLOKI) rocked markets this week with a surprise +200% rally smashing a year of stagnant price action.

With FLOKI currently trading at $0.0000585 - a 24hr gain of +5.80% at the time of writing. Investors are on edge to see just how high this rally can go.

Chart structure currently paints a retracement of -15% over 48hrs from a local rally top at $0.000068.

FLOKI hasn't reached such heights in almost a year. Indeed, $0.00007 will be a familiar area of resistance to long-term holders.

Back in February 2022 - the last time FLOKI tested this level - price action was brutally rejected against a backdrop of poor macro sentiment for risk-on assets. This led to a depressing year of bleed out price action for FLOKI.

But things are bouncing back. The jaw-dropping 200% rally on Wednesday has created a beautiful bullish pendant as consolidation seems to be holding. This bullish technical structure suggests FLOKI is primed to push up further.

Another leg to this rally could see a zero knocked off the price, with $0.0001 (+71%) the next ceiling of resistance.

Yet, if bulls lose their grip a breakdown from here could see a tumble to the nearest local support zone at $0.000035 (-40%).

With the RSI 14 is sat at 69. This is an overbought signal, but it can be seen that the RSI is cooling down rapidly after Wednesday's explosive move.

The signal here could be another day or two of consolidation before things become oversold and price pushes up.

FLOKI's MACD is showing minor bullish divergence at 0.00000199. Reflecting the seismic rally after a year of suppressive sell pressure.

Overall, with a topside target of $0.0001 (+71%) and downside risk to $0.000035 (-40%). The current Risk:Reward ratio for FLOKI is 1.77.

This is an attractive entry,