CandleFocus Why Popcat (POPCAT) May Stall Before Reaching $2
2024-10-14
Author: Content Editor
Solana-based meme coin Popcat (POPCAT) has seen an 89% increase in price over the past 30 days, attracting attention from traders. However, profit-taking may cause some of these gains to diminish, with a potential pullback on the horizon. The Coin Money Flow (CMF) indicator has been declining despite the rally, creating a bearish divergence. Market volatility has increased, indicated by the widening gap of the Bollinger Bands indicator. This suggests that POPCAT may be overbought and due for a pullback. The Fibonacci Retracement tool suggests a potential drop in value of 34% to the support level of $0.90. If demand increases, POPCAT's price may reach or surpass its all-time high of $1.55.
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