• The daily chart shows a bullish bounce from a strong historical support zone.
• The next targets are $0.0001873 and $0.0002837 if the breakout holds.
• Open interest jumps 11.4%, reflecting rising investor confidence today.

FLOKI is making progress again after a noticeable increase in its price over the past day, even as the broader crypto market remained flat. The token surged by nearly 6.6% over the last 24 hours and registered renewed strength. But its value over the last week dropped by more than 8%.

At the time of writing, FLOKI is trading at $0.0001182, with a 24-hour trading volume of $171.5 million, significantly up by 47.7%. Its market capitalization stands at $1.12 billion, reinforcing its strong position in the meme coin sector.

Also Read: FLOKI, DOGE, SHIB Surge as Meme Coins Return with $2 Billion Volume

FLOKI Tests Resistance, Aims for Higher Targets

A well-known crypto analyst, Kings Charts, noted that FLOKI has tested its critical resistance area and is currently holding above it, a signal that the token could move higher still in the event of a perpetuation of the trend.

Technically, FLOKI has just bounced from a key support zone between $0.0001100 and $0.0001200, an area where buyers previously stepped in. This recovery was accompanied by rising trading volume, indicating that investor interest is returning.

Right now, the price is testing the nearby resistance between $0.0001250 and $0.0001300. If the price crosses out above that zone, its next big price target will be around $0.0001873, the former ceiling, where the price was rejected.

If the rally continues, the token could even aim for $0.0002837, a major resistance point that might draw heavy selling pressure.

Still, analysts warn that if FLOKI falls below $0.0001100, it could shift the outlook to bearish again. Until then, the current setup looks promising.

Open Interest Rises, Signaling Growing Confidence

According to the data from CoinGlass, FLOKI recorded a 28% increase in its volume to $212 million. Besides that, open interest also surged 11.4% to $47.1 million, implying that traders are growing more speculative about future price movement.

FLOKI’s OI-weighted value is 0.0043%, showing moderate leverage on the market. More positions are being opened, but the traders aren’t engaging in large levels of borrowing, and this is cautious optimism.

This also aligns with the market’s behavior, as the market’s volume and price appreciate but not aggressively.

In short, FLOKI appears to be drawing attention again. If support holds and demand keeps rising, the meme coin could be gearing up for a stronger bull run in the coming days.

Also Read: FLOKI Breaks Weekly Downtrend, Major Rally in Sight?