The constant support from the $0.0001760 neutralizes multiple bearish attacks on FLOKI and aims to give a bullish breakout to reach the $0.0002727 mark.

FLOKI Inu is a dog-themed meme coin that claims to be not just another meme coin, but "a movement." It's a cryptocurrency created by people who are fans of the Shiba Inu community. The coin's name comes from Elon Musk's Shiba Inu.

Floki Inu is currently working on "three flagship utility projects:"
<ul>
 	<li style="font-weight: 400">The Valhalla region is an NFT gaming metaverse called Valhalla.</li>
 	<li style="font-weight: 400">An NFT and marketplace for products known as FlokiPlaces.</li>
 	<li style="font-weight: 400">A platform for education and content named Floki University.</li>
</ul>
Read more to know more about the technical analysis of the Floki Inu token.
<h2>Past Performance of FLOKI</h2>
FLOKI coin price shows a 32% fall in the <a href="https://www.cryptoknowmics.com/news/floki-technical-analysis-struggling-bulls-fail-to-overcome-resistance-trend-line/">last two weeks</a> while maintaining a downtrend from the start of November 2021. Thus, resulting in a descending triangle pattern in the daily chart.

However, the constant support near the base of the triangle at $0.0001760 promotes the bullish breakout theory. Therefore, traders need to keep a close eye to catch the breakout early. 

<img src="https://s3.tradingview.com/snapshots/i/IIoLfxjn.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/IIoLfxjn/">FLOKI/USD Daily Chart</a>
<h2>FLOKI Technical Analysis</h2>
The resistance trend line in action has been keeping a constant check on the bullish growth since November. Therefore, FLOKI needs a boom in buying pressure to give a bullish breakout. 

Considering the breakout occurs, buyers can face opposition near the $0.0001971 and $0.0002727 mark. And, in case the triangle collapses, the support levels are at $0.0008868 and $0.0005971.

The coin price remains near the support line of Bollinger Bands below the 20-day SMA. The bands keep a sideways move and hint at a possible expansion if the price manages to break above the 20-day SMA. 

The RSI indicator at 42% reflects the silence before the storm that awaits the triangle breakout. Moreover, the slope showcases bullish divergence in the recent dips. Therefore, increasing the chances of an upside breakout.

In conclusion, traders need to wait for the pattern’s fruition to get a decisive signal from the indicators and the price action. 
<h2>Upcoming Trend</h2>
Currently, the FLOKI coin price tests the $0.0001760 mark and teases a bullish reversal to the resistance trendline. However, the chances of a breakout are higher as the pattern bottles up.

Traders can expect an upside target of the $0.0002727 mark if the triangle gives an upside breakout. However, a stop loss below the $0.0001760 mark must be in place.

FLOKI Technical Analysis: Trendline Breakout Aims at a 60% Price Jump

The constant support from the $0.0001760 neutralizes multiple bearish attacks on FLOKI and aims to give bullish breakout to reach the $0.0002727 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

FLOKI Technical Analysis: Trendline Breakout Aims at a 60% Price Jump

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