Analyst Predicts Floki Token (FLOKI) Set to Reach New All-Time Highs
A well-known analyst, Bluntz, has recently shared insights on the meme token Floki (FLOKI), suggesting that it is on the verge of experiencing significant rallies that could lead to fresh all-time highs (ATHs).
Bluntz, who has a following of 306,200 on the social media platform X, has pointed out that FLOKI seems to have completed an ABC correction on the daily chart. Utilizing the Elliott Wave theory, which indicates that a bullish asset often initiates a five-wave upward movement following an ABC retracement, Bluntz expressed optimism about FLOKI’s future prospects.
Bluntz’s chart analysis indicates that FLOKI could potentially surge towards $0.0004 by March, with its current value standing at $0.0002. Additionally, the analyst is keeping a close eye on the US dollar index (DXY) as a gauge for investor sentiment and risk appetite.
The DXY, according to Bluntz, appears bearish after encountering a key Fibonacci resistance level and completing an ABC upside correction. He anticipates a drop below 100 for the index in the near future.
With a bearish DXY chart signaling a shift towards risk assets like cryptocurrencies and stocks, the current DXY level at 108 suggests a potential trend in the market. Investors may be moving away from US dollars in favor of higher-yielding assets.
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