Analyst Says FLOKI Looks ‘Turbo Bullish,’ Predicts ‘Inevitable’ New All-Time Highs for the Major Memecoin

A popular analyst predicts that the meme token Floki (FLOKI) is gearing up for significant rallies towards new all-time highs (ATHs).

Using the pseudonym Bluntz, the analyst shared with his 306,200 followers on X that FLOKI seems to have completed an ABC correction on its daily chart.

Bluntz relies on the Elliott Wave theory, which suggests that a bullish asset often triggers a five-wave upward movement following an ABC retracement.

“FLOKI is showing strong bullish signals and is on track to reach new ATHs in my opinion. The price action since the November highs indicates a high timeframe ABC correction with a new impulse in progress, leading to an inevitable ATH before the end of the cycle.”

Based on Bluntz’s analysis, he anticipates that FLOKI could surge towards $0.0004 by March. Currently, FLOKI is valued at $0.0002.

The analyst is also keeping a close eye on the US dollar index (DXY), a key indicator of investors’ risk appetite. Bluntz believes that the DXY is bearish after hitting a crucial Fibonacci resistance level and completing an ABC correction to the upside. He predicts a drop below 100 for the index.

“The DXY appears to have peaked, reaching 108 as I predicted, encountering significant resistance at the 0.618 level. Following a strong impulsive move downwards, it seems to be forming a slow ABC correction upwards. Despite the DXY’s rise, risk assets have performed well, indicating a potential drop below 99 in the near future.”