Fun

POPCAT Nears Breakout Towards New ATH, But Analysts Warn Of Possible Correction

News Feed - 2024-10-19 04:10:49

Este artículo también está disponible en español.


Multiple market watchers suggest that memecoin sensation Popcat (POPCAT) is about to rally towards a new all-time high (ATH). As the token attempts to reclaim key resistance levels, some analysts warn the cat-themed memecoin could see a correction soon toward its monthly opening. Related Reading Ethereum (ETH) About To ‘Catch Up On BTC’, Is It Ready To Reclaim $3,000? 1 day ago Popcat Retest $1.4 Resistance Level


Memecoin sensation Popcat has been one of the best-performing cryptocurrencies over the past three months. Despite the market retraces, the token outperformed most cryptocurrencies, becoming the first cat-themed memecoin to achieve a $1 billion market capitalization.


In the last 30 days, Popcat has seen a 108% surge, hitting three new ATHs since breaking the $1 barrier. After reaching its latest ATH of $1.56 a week ago, the cryptocurrency has been on a 7-day downtrend.


The memecoin unsuccessfully attempted to break above the trendline earlier this week, facing a correction toward the $1.2 support level. Popcat bounced 16.6% from this zone on Thursday, propelling the token’s surge toward the $1.3 resistance level.


On the last day, the cryptocurrency retested the trendline twice after surpassing the $1.4 mark. A successful reclaim of this zone could propel the price toward a new ATH.


A market watcher considers that if Bitcoin’s price holds, Popcat should successfully break this level by next week. It’s worth noting that the cat-themed token followed BTC’s lead on Friday morning, surging 2.4% as the flagship cryptocurrency neared the $69,000 mark. Is A Correction Looming?


Crypto analyst Sanchez noted that the memecoin’s price was “running flat” in the four-chart on Friday morning. To the analyst, the cat-themed token’s performance “looked good” for another leg up but suggested the possibility of another correction ahead of the breakout. Ideally, we get a good reaction around ~1.29 to make the C more complete, and the cat starts popping again


A drop from the $1.3 mark could send Popcat’s price toward the $1.1-$1.0 mark. Trader Crypto Tony suggested that the cryptocurrency could see a retest of the monthly opening of around $1.01 in case of a rejection.


Despite the correction forecast, the memecoin has seen a 7% increase in the last 24 hours, trading 8.7% below its ATH. Popcat reclaimed the $1.3 mark and is attempting to confirm the breakout and regain the $1.4 resistance level. Related Reading Polkadot (DOT) Gearing Up For ‘Massive Breakout’, Will It Skyrocket To $20? 2 days ago


Analyst CryptoGodJohn stated that the cryptocurrency “looks like it wants new ATHs and beyond this weekend” following its recent performance. Additionally, crypto trader Bluntz noted that Popcat’s price could achieve a 30% surge toward a new all-time high.


To Bluntz, a rise toward the $1.7 mark might be coming short-term after “getting real close to a biddable level” this week, but “would like to see one more sweep.”


As of this writing, Popcat trades at $1.41, an 8.3% surge in the weekly timeframe. Popcat’s performance in the three-day chart. Source: POPCATUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

News Feed

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection
SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection The U.S. Securities and Exchange Commission (SEC) is focusing on bringin
William Suberg15 hours agoFirst Bitcoin ETF trades $1.5B as GBTC ‘discount’ echoes $69K BTC priceProShares and Grayscale lead a surge of activity in Bitcoin investment products, with analysis confident of implied dem
Derek Andersen2 hours agoDigital Dollar Project completes CBDC retail remittance pilot with Western UnionThe project simulated transfers to customers of BDO Unibank in the Philippines with improved settlement time, cost
Helen Partz10 hours agoCoinDCX exchange expands self-custody wallet to support 155 countriesWith Transak’s integration, CoinDCX’s Okto wallet has increased the number of supported jurisdictions from 60 to more than 1
Derek Andersen2 hours agoRBI lists risks of stablecoins for developing economies, calls for global regulationThe Reserve Bank of India listed six specific ways a stablecoin can undermine emerging markets, adding to its m
Tom Blackstone12 hours agoConsenSys releases ‘fuzzing’ tool to test smart contract vulnerabilitiesDiligence Fuzzing lets developers introduce random and invalid data points to find security flaws.5722 Total views3 To
Coin mit massivem Potenzial? Unglaublicher Start für Mind of Pepe
Este artículo también está disponible en español. Dieser Coin hat wirklich einen erstaunlichen Start hingelegt. Binnen des ersten Tages im Presale investierten Anleger 1,
Arizona’s Senate mulls proposal to add Bitcoin ETFs to retirement portfolios
Brayden Lindrea8 hours agoArizona’s Senate mulls proposal to add Bitcoin ETFs to retirement portfoliosSatoshi Action Fund’s CEO Dennis Porter said even adding a small amount of Bitcoin ETF exposure could “DRAMATICA
Bitcoin, Ethereum Technical Analysis: ETH, BTC Climb for Back-to-Back Sessions for First Time in Nearly 2 Weeks
Bitcoin, Ethereum Technical Analysis: ETH, BTC Climb for Back-to-Back Sessions for First Time in Nearly 2 Weeks Bitcoin was trading higher for a second consecutive session on Tuesd
Crypto Job Postings Increased 400% in 2021 According to Linkedin
Crypto Job Postings Increased 400% in 2021 According to Linkedin According to new data from Linkedin, a professional work-based social network, the number of cryptocurrency-related
New Stimulus Checks: Barbara Corcoran Slams Mark Cuban’s Expiry Date Idea, Favors Long-Term Relief
New Stimulus Checks: Barbara Corcoran Slams Mark Cuban"s Expiry Date Idea, Favors Long-Term ReliefFamous investor and “Shark Tank” star Barbara Corcoran has criticized M
Crypto market ‘underestimates the long-term impact’ of Bitcoin halving: Bitwise
Martin Young3 hours agoCrypto market ‘underestimates the long-term impact’ of Bitcoin halving: BitwiseIn the month after past Bitcoin halvings, its price saw little movement — but in the next year, it saw significa