CandleFocus

POPCAT hits new ATH with 19% surge despite mixed signals

Author: Content Editor
Popcat, a meme coin on the Solana blockchain, has experienced an impressive rally, reaching a new all-time high despite the market's overall instability. It has seen notable upward momentum since October 4, with a 21.8% increase on that day and a 15.17% spike on October 6. In the past 24 hours, POPCAT has gone up by 19% and is trading at $1.45. Its price has appreciated by 53% in the last week, and its market cap has surged to $1.4 billion. The increasing volume of $155.8 million signifies growing interest. While the asset is currently in a price discovery phase, with an overbought condition, a potential price correction may occur if market participants decide to take profit. However, if buying momentum continues, POPCAT may reach higher levels before any significant pullback. The Commodity Channel Index supports the idea of extreme buying pressure and a potential reversal if the trend weakens. In case of a pullback, immediate support lies at $1.2172, with $1.0698 as the last defense above the key $1 level. A drop below $1 would require bulls to defend the $0.8313 pivot level to avoid a bearish scenario. Despite potential risks, the current price action remains bullish.

Related News