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Cryptocurrency News Articles
Popcat (POPCAT) Poised for a Price Decline of Over 15% Following the Appearance of a Bearish Pattern on Its Daily Chart
Sep 28, 2024 at 03:45 am
POPCAT could drop by 15% to reach the $0.80 level if it closes a daily candle below the $0.95 level. POPCAT’s Long/Short ratio currently stands at 0.933 level which indicates a bearish sentiment among traders.
Solana-based meme coin Popcat (POPCAT) is poised for a price decline of over 15% following the appearance of a bearish pattern on its daily chart.
This bearish pattern, which appears as a large red candle near a resistance level, indicates selling pressure and a potential drop in price.
If POPCAT closes a daily candle below the $0.95 level, it could drop to reach the $0.80 level in the coming days.
Moreover, on-chain metrics such as the Long/Short ratio also indicate a bearish sentiment among traders, with 51.72% of top traders holding short positions.
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