Floki (FLOKI) Retesting Bullish Breakout – Can it Make a Bounce Back?

Date: Sun, May 18, 2025 | 7:45 PM GMT

After a strong comeback in recent weeks — with Ethereum (ETH) soaring over 53% in the past month — the cryptocurrency market is now facing a shift in momentum. ETH has slipped below $2,350 from its recent high of $2,700, triggering a wave of uncertainty across the market. This pullback is also impacting high-volatility assets like memecoins, including Floki (FLOKI), which are now experiencing increased pressure and fading bullish sentiment.

FLOKI has posted impressive monthly gains of over 66%, and now, amid current market volatility, a key breakout is being retested — suggesting that another bounce back might be on the horizon.

Retesting the Cup and Handle Breakout

On the daily chart, FLOKI has formed a textbook Cup and Handle pattern — a classic bullish setup that typically signals a strong trend reversal.

After rounding out a solid base and forming the “cup,” FLOKI pulled back slightly to create the “handle,” dipping to a low of $0.000070. The token found strong support near the 100-day moving average and then broke above the neckline resistance at $0.000092, confirming a breakout.

FLOKI Daily Chart//Coinsprobe (Source: Tradingview)

This breakout led to a local high of $0.00012, but as is often the case, some profit-taking kicked in, triggering a 25% correction right back into the breakout zone between $0.000085 and $0.000092 — a level now acting as support.

What’s Next for FLOKI?

In this current retest, FLOKI is showing encouraging signs, having already rebounded from $0.000086 to the current level around $0.000092. If bulls can continue to defend this level and volume picks up, the uptrend could resume.

A confirmed hold above $0.000092 would validate the breakout and potentially set the stage for the next move higher. Based on the height of the Cup and Handle pattern, the next upside target could be around $0.00014 — a 52% move from current levels.

But in the short term, all eyes remain on Ethereum’s next move — as continued weakness in ETH could drag the memecoin rally down with it.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.