The cryptocurrency market is witnessing a shift in sentiment, and amidst this change, Popcat (POPCAT), a popular meme coin based on Solana, is showing signs of a significant upside rally. On January 17, 2025, POPCAT reversed a prolonged decline, gaining 22% after enduring a steep 75% drop over the previous two months. This sudden surge marks a turning point for the coin, which had been consolidating for several days.
POPCAT Technical Analysis and Key Levels
Expert technical analysis reveals that POPCAT is now entering bullish territory after breaking out from its consolidation zone. This breakout has propelled the coin towards a critical trendline resistance level that has historically acted as a barrier to upward price movement. Since November 2024, POPCAT has faced price reversals each time it has reached this level. With the coin now testing this crucial resistance again, there is growing optimism that it could break through.
If POPCAT successfully breaches this resistance level and closes a daily candle above $0.80, analysts suggest a 50% rally could be on the horizon, with the next resistance level pegged at $1.18.
POPCAT Price Prediction
Given the recent price action and the shift in market sentiment, the outlook for POPCAT appears increasingly bullish. If it can maintain momentum and close above the $0.80 resistance, there is a high probability that POPCAT could surge to $1.18, marking a substantial 50% price increase.
However, despite this recent breakout, POPCAT remains below the 200 Exponential Moving Average (EMA) on the daily chart, signaling an ongoing downtrend. Nevertheless, the Relative Strength Index (RSI) nearing oversold territory indicates that upside momentum is gaining strength.
Also Read: Popcat (POPCAT) Signals Recovery: Can It Reclaim $0.82 Amid Renewed Bullish Momentum?
Current Price Momentum
As of the latest update, POPCAT is trading at $0.713, having surged over 22% in the last 24 hours. The trading volume has also increased by 15%, reflecting heightened market interest following the recent breakout, signaling a potential continuation of the rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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