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FLOKI gains 7 percent and builds momentum as price nears major resistance level
By: cryptosheadlines|2025/05/08 18:00:03
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com FLOKI breaks key range with rising volume and RSI crossing into overbought.Bullish candles hold structure as intraday pressure targets fresh resistance.The ascending triangle on the macro chart supports a breakout toward the $0.00010 zone.FLOKI/USDT closed at $0.00008937 on Binance, advancing 7.02% amid continued bullish momentum. With price trading 48.75% above key support at $0.00006017, buyers are focused on breaking through resistance at $0.00009495.Momentum-Fueled Breakout Drives Price Toward ResistanceFLOKI’s upward price structure has accelerated since April 21, breaking out of a horizontal range formed earlier in the month. The breakout triggered four green candles over five sessions, each closing near session highs. The most recent candle reached $0.00009495 before settling slightly lower.Source: TradingViewVolume peaked at 225.71 billion tokens, reinforcing buying strength behind the rally. Between April 23 and 25, three volume spikes confirmed institutional participation. Even during pullbacks on April 26 and 28, declining red volume highlighted weak selling pressure.The RSI (14) has moved into overbought territory at 72.21, confirming strong upward momentum. The RSI crossed its 14-day average line multiple times through April, with key bullish crossovers on April 13, 25, and 28. These alignments matched price breakouts, adding weight to the move.The candles from April 21 onward also show upper wick extension, suggesting intraday bullish pressure. Red candles have small bodies and failed to close below earlier green lows, protecting trend structure. Combined with volume and RSI, these patterns reinforce current bullish control.Macro Triangle Formation Signals Potential Breakout ContinuationSolberg Invest’s macro chart identifies an ascending triangle in play since late 2022. Price has formed three impulsive moves from rising support toward resistance near $0.00003750. The third leg, underway since January 2025, mirrors this structure and maintains historical pattern symmetry.Source: Solberg InvestPrice currently trades around $0.00003105 on the macro chart, approaching key resistance once again. Weekly candles are growing stronger, signaling building momentum. The rising green trendline continues to hold, reinforcing long-term structural support.The triangle features flat resistance and rising lows, a textbook bullish formation. Past rejections near $0.00003750 resulted only in consolidations, not breakdowns. That behavior reflects buyer accumulation ahead of breakout attempts.If short-term resistance at $0.00009495 breaks, FLOKI could quickly test $0.00010. A clean candle close above that zone would confirm bullish continuation. Traders should watch for high-volume breakout behavior and RSI strength to align.Source link
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