Jelle (@CryptoJelleNL) noted that the sentiment surrounding FLOKI’s market structure has shifted dramatically, indicating a potential bullish trend. Jelle observes that the market has formed multiple consecutive higher lows and a recent higher high, signaling a confirmed bullish market structure.
This development hints that the anticipated movements for Q4 may soon come to fruition, with specific targets highlighted in the accompanying chart.
Detailed Breakdown of Jelle’s Analysis
Jelle emphasizes the formation of several higher lows on the FLOKI/USDT daily chart. He marks three distinct green circles that illustrate these higher lows from mid-August to late September. This pattern suggests that buyers are entering the market more aggressively, indicating a rise in demand.
The recent higher high achieved in mid-September further solidifies this bullish shift, contrasting sharply with the previous bearish trend observed from April to early June.
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Key Support Zone
The price of FLOKI is currently trading around a critical support level near 0.00001300 USDT, a zone where the price has previously rebounded.
This support has been tested multiple times, including during the formation of the recent higher lows, establishing a robust base from which the price could potentially launch its next upward movement.
Target Levels
In his analysis, Jelle identifies two significant target zones:
Target 1: Positioned near 0.00001500 USDT, this level represents the first key resistance point. Should FLOKI maintain its bullish momentum, this price target would be the next logical point for an upward challenge.
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Target 2: Set near 0.00001700 USDT, this target aligns with a resistance zone from early June. Reaching this level would signify a substantial breakthrough, indicating a more pronounced bullish trend.Q4 Thesis
Jelle’s reference to the Q4 thesis suggests that he anticipates heightened bullish activity as the year draws to a close. The current bullish structure supports this expectation, indicating that the market might be gearing up for a significant move as it continues to form higher highs and lows.
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The post FLOKI Memecoin Price Ready to Fly as Market Structure Flips Bullish: Top Analyst Identifies Key Levels and Targets appeared first on CaptainAltcoin.
