Trader Says FLOKI ‘Going Higher, Much Higher,’ Maps Path Forward for Bitcoin, Ethereum and Solana
dailyhodl.com + 1 more 18 July 2024 20:45, UTC A widely followed crypto analyst is remaining bullish on Dogecoin (DOGE) rival Floki (FLOKI), predicting the token will outperform other memecoins this cycle.
Pseudonymous crypto trader Inmortal tells his 212,400 followers on the social media platform X that Floki could soar more than 43% from the current value.
“102% precision squiggle line here. I said it months ago, ‘FLOKI will lead memecoins,’ and that is what is happening. FLOKI is going higher, much higher.”
Looking at his chart, the analyst suggests Floki may retest the level around $0.0001500 before going on a massive rally to around $0.000250.
Floki is trading for $0.0001743 at time of writing, down nearly 6% in the last 24 hours.
Next up, the analyst says that Bitcoin (BTC) could retrace to a range between $61,000 and $63,000 before continuing higher to $68,000.
“Now seriously, somewhere between $61,000-$63,000 is a good spot [to] catch a retrace. $61,000: weekly open. $63,000: monthly open. If the market gives, because a lot of people were off guard, and you know what that means.”
Bitcoin is trading for $63,788 at time of writing, down more than 2% in the last 24 hours.
Next up, the analyst predicts that Ethereum (ETH) will soon retest the $3,200 level before rallying beyond $3,800.
“Red weekend plus green week combo? Maybe. $3,200 is a good spot to catch a dip, confluent with weekly open.”
The analyst also shares a chart suggesting that Ethereum against Bitcoin (ETH/BTC) may flip the key level around 0.055 BTC into support similar to 2022.
“You know the drill.”
ETH/BTC is trading for 0.053 BTC ($3,408) at time of writing.
Lastly, the analyst believes ETH-rival Solana (SOL) could break out of a descending triangle and soar to $220.
“Solana summer if we break $170.”
Solana is trading for $157 at time of writing, down slightly in the last 24 hours.
