Since July, the Popcat (POPCAT) price formed a base near the $0.400 hurdle, which it tested multiple times. Buyers have won the battle and the price has gained the bullish momentum. It has displayed slow and steady gains and is heading towards the $1 mark.
The POPCAT price has been rising by generating lower lows and lower highs. The price has surpassed the resistance level of $0.650 and turned into a support level. Buyers seem to be strong and are trading near its ATH.
Popcat Crypto Rising in a Pattern
CryptoxLawyer.eth (@Cryptox_Lawyer) tweeted that the POPCAT price is rising in a pullback format. Recently, the price pulled back and extended near the ATH.
The POPCAT price is wandering in the higher high territory and a short-term profit booking is imminent. The price is expected to face resistance from the $1 mark and may melt to the $0.800 for a pullback. After this pullback, the price could gain bullish momentum and may overcome the $1 mark.
Technical Analysis of POPCAT Price Over 1-D Timeframe
When writing, the Popcat crypto was trading at $0.951 which is a 7.23% rise over the past 24 hours. The market capitalization was $935.31 Million and the 24-hour trading volume was $165.05 Million which has risen by 5.48%.
The price has taken support on the 20-day EMA and displayed sharp buying. This bullish momentum was supported by the trading volume which could play a vital role in the further momentum.
The bullish momentum in the POPCAT token price may stall near the psychological level of $1. If the price faces resistance from the $1 mark, the buyers may prefer to book profits which may lead to a bearish momentum.
The bearish move could be halted near the $0.800 mark and a pullback would be anticipated. Losing this level could trigger long-term bearish momentum and previous gains can be erased.
On the other hand, if the digital asset price surpasses the $1 mark, buyers may dominate further. Suppose the chart structure manages to attract investors, strong bullish momentum is likely.
According to the technical indicators, the POPCAT price has smashed the 20-day EMA indicating the buyers’ domination. The RSI has shown bullish divergence and triggered a bullish crossover with the RSI-based moving average.
POPCAT Price Analysis and Forecast
Based on the recent surge in POPCAT price, it is on a bullish trajectory, with potential for further gains. The price has gained significant momentum, surpassing key resistance levels and indicating strong buyer interest.
However, it is important to monitor the $1 mark closely, as it could trigger profit booking and a potential pullback. Technical indicators suggest bullish dominance, but investors should remain cautious and watch for key support and resistance levels for potential trading opportunities.
According to the chart structure, the POPCAT price is likely to meet resistance from the $1.00 mark and an imaginary resistance level of $1.50. The bearish trend may halt near the $0.650 and $0.400 levels.
