Between September 26th and 27th, Floki Inu (FLOKI) experienced a price surge, climbing from $0.00001561 to $0.00001596, a move that drew significant attention in the cryptocurrency market. Although FLOKI has since retraced to $0.00001590, there is growing anticipation of a strong performance in October.
One individual who played a prominent role in the discussion surrounding FLOKI was Crypto Tony, an NFT and cryptocurrency investor. According to Tony, the potential increase in the price of Dogecoin (DOGE) could act as a catalyst for FLOKI’s rally. Tony also expressed the view that FLOKI was situated within a macro support zone, suggesting the possibility of substantial accumulation occurring in that particular range.
It’s worth noting that FLOKI didn’t perform well in October 2022. Nevertheless, in 2021, shortly after its launch, FLOKI experienced a significant price increase, surging from $0.000068 to $0.0027 between October and November. Interestingly, during this same period, Dogecoin (DOGE) also exhibited a similar performance.
FLOKI’s Upcoming Objectives Are Intriguing
Looking at the daily chart, FLOKI has remained within the range of $0.0000153 to $0.0000164, indicating limited liquidity entering the market. However, at the present moment, FLOKI is displaying signs of an upward trend, with its price climbing from $0.0000155 to $0.0000158 in just a few hours.
One additional indicator supporting this outlook is the Awesome Oscillator (AO), which currently stands at -0.00000090. Typically, the negative AO, representing the difference between the 34-period and 5-period Simple Moving Averages (SMAs), would suggest a growing downward momentum.
However, the chart for the AO reveals higher highs and the presence of green bars. This pattern in the indicator hints at a potential entry point around $0.0000158. To drive FLOKI upwards, an increase in buying pressure would be essential.
If accumulation indeed occurs at $0.0000158, as noted by Crypto Tony, there is a possibility of FLOKI reaching $0.000019 in the upcoming days. Additionally, the Relative Strength Index (RSI) appears to support this forecast.
At the time of composing this message, the RSI stands at 42.77, marking a significant rise from its value of 35.09 observed on September 21. This uptick indicates an influx of buyers who have contributed to FLOKI’s modest price uptick. Should the RSI cross into the range of 49.50 to 55.00, it could signal FLOKI’s initial target of $0.000018.