Bitcoin News Today: FLOKI Surges 26.1% in 24 Hours After Breakout

FLOKI, a prominent cryptocurrency, has experienced a significant surge in value, gaining 26.1% in the past 24 hours and reaching a price of $0.000132. This upward movement was driven by a confirmed breakout above a long-standing daily trendline that had been in place for several months. Following this breakout, the price has risen by over 55%, establishing a near-term uptrend. The breakout involved a successful retest of the trendline, which has now become a support level.

The price increase has brought FLOKI to the resistance level at $0.0001381. Meanwhile, the 24-hour low remains at $0.0001057, serving as a close proximity support. These two levels now define the short-term price range, within which the price continues to fluctuate, indicating rising participation and potential for further structural continuation.

A projection from the current structure suggests a potential 112.44% move from the breakout zone, targeting the $0.0001982–$0.0002089 area. This projection is based on chart data from previous high-volume sell-off zones, which have not been revisited since the multi-month decline began in late 2024. The current price structure aligns with this mapped breakout range, which has been drawn directly from the downward trend’s origin point.

Volume around the breakout area has steadily increased since early July, providing further confirmation of heightened activity. The upward expansion comes after weeks of compression beneath the trendline, which now appears to have transitioned into price discovery above the former resistance zone.

In addition to its gains against the USD, FLOKI has also recorded significant appreciation against Bitcoin Cash and Ethereum. In the last 24 hours, FLOKI has appreciated 25.5% against BTC and 14.2% against ETH. These cross-pair executions denote increased demand not only in the spot market but also in BTC- and ETH-pairing within significant trading platforms. This strength has coincided with broader capital rotation across altcoins, where several tokens have shown similar formations. The consistency of the price gain across multiple pairs suggests that liquidity has been distributed into FLOKI from larger cap coins. As long as support near $0.0001057 holds, the market will likely focus on the $0.0001381 resistance next.