Analyst Says FLOKI Looks ‘Turbo Bullish,’ Predicts ‘Inevitable’ New All-Time Highs for the Major Memecoin

A carefully watched analyst believes that the meme token Floki (FLOKI) is gearing up for rallies on its solution to new all-time highs (ATHs).

Pseudonymous analyst Bluntz tells his 306,200 followers on social media platform X that FLOKI seems to have accomplished an ABC correction on the every day chart.

Bluntz makes use of the Elliott Wave principle, which states {that a} bullish asset tends to trigger a five-wave upward transfer after finishing an ABC retracement.

“FLOKI is one other main meme that for my part seems to be turbo bullish and headed for ATHs.

Worth motion off the November highs seems to be like a brand new excessive timeframe ABC with new momentum coming, ATH earlier than the tip of the cycle is inevitable for my part.

Primarily based on the dealer’s chart, he appears to foretell that FLOKI will rise near $0.0004 in March. On the time of writing, FLOKI is price $0.0002.

The analyst additionally retains a watch on the US greenback index (DXY), which merchants use as a barometer of buyers’ danger urge for food. In line with Bluntz, the DXY seems to be bearish after respecting a key Fibonacci resistance degree and exiting an ABC upward correction. He now expects the index to fall beneath 100.

“DXY now seems to be on high, reaching 108 as I anticipated, reaching an essential degree of 0.618 and searching like a protracted sluggish ABC up after an impulsive transfer down.

Dangerous property held up extraordinarily nicely whereas DXY was pumping, which was counterintuitive.

I believe we are going to return beneath 99 in 2025.”

A bearish DXY chart usually means that buyers are unloading their US {dollars} to build up dangerous property resembling cryptocurrencies and shares. On the time of writing, the DXY is hovering at 108.

Do not miss a beat – Subscribe to obtain electronic mail alerts straight to your inbox

Verify value motion

Comply with us additional X, Facebook And Telegram

Surf to the Every day Hodl combine

Generated picture: Midjourney