Key Takeaways
- Macro WXY correction appears completed near $0.00004435.
- The intraday structure shows a bullish wedge inside the demand zone.
- A breakout above $0.00006018 may trigger an impulsive rally.
Floki (FLOKI) has undergone a prolonged correction after its massive rally in 2024.
Following a completed WXY correction on the 4-hour chart and an impulsive wave on the 1-hour chart, FLOKI is now sitting at a critical support zone.
Both price structure and momentum indicators point toward a potential bullish reversal.
FLOKI Price Analysis
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On the daily chart, FLOKI has completed a complex WXY correction.
The correction began after the fifth wave of a five-wave impulse peaked at around $0.00035 on June 5, 2024.
Since then, the token has followed a descending channel, forming lower highs and lower lows.
The final leg of the correction, wave Y, appears to have concluded on April 7 at the 1.0 Fibonacci extension at $0.0000443 – same length as wave W.
The Relative Strength Index (RSI) on the daily timeframe has shown a consistent bullish divergence pattern—while the price continued falling, the RSI formed higher lows.
This is often one of the earliest signs of selling exhaustion and growing buying interest beneath the surface.
A clean breakout above this level could confirm the macro reversal and suggest the start of a new bullish wave structure.
FLOKI Price Prediction
The one-hour chart presents a clearer microstructure. FLOKI completed a five-wave impulse from the local bottom (April 7) into the $0.000060 high on April 13.
This was followed by a classic ABC correction, with wave (c) now appearing to end around a major green demand zone between $0.0000512–$0.000053.
Interestingly, wave (c) has taken the form of a falling wedge, a bullish reversal structure, and has brought the price down into the exact confluence of horizontal support and Fibonacci levels (0.5 and 0.618 of the impulse).
The RSI on the 1-hour timeframe is near oversold territory, suggesting weakening bearish momentum and a likely pivot soon.
Projected Fibonacci extensions for the upcoming wave (iii) include:
- 1.0 extension at $0.00006575.
- 1.272 extension at $0.00006968.
- 1.618 extension at $0.00007469.
For this move to validate, FLOKI must break through the local resistance at $0.00005851 (0.5 retracement of the decline) and ideally $0.00006018 — a key horizontal pivot.
This bullish scenario would be invalidated if FLOKI closes below $0.00005126, suggesting another leg downward, possibly revisiting $0.00004884 or even $0.00004435.
Key Levels to Watch
- Major Support: $0.00005126 (demand zone low), $0.00004435 (macro Fib).
- Immediate Resistance: $0.00005851 (0.5 Fib), $0.00006018 (pivot high).
- Breakout Confirmation: Sustained move above $0.00006575 with volume.
- Invalidation Level: Breakdown below $0.00005126.
- Fractal Watch Zone: $0.00006575–$0.00007469 (wave (iii) target zone).
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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