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Cryptocurrency News Articles
Popcat (POPCAT) Price Prediction 2021-2025: Will POPCAT Rise Again?
Oct 11, 2024 at 01:00 pm
Popcat (POPCAT) was down by 17.8% from its all-time high at $1.485. At press time, it was trading at $1.21, as Bitcoin (BTC) bulls struggled to push
Popcat (POPCAT) traded at a 17.8% loss from its all-time high at $1.485. At press time, it was trading at $1.21, as Bitcoin (BTC) bulls struggled to push prices beyond $64k.
The volatility on 7 October gave way to bearish momentum across the crypto market.
POPCAT was also affected by this volatility and it gave way to a minor retracement. Despite the price drop, the structure and price trend were strongly bullish.
The fair value gap could pull prices lower
The strong price gains on 4 October left behind a fair value gap on the daily chart. This zone extended from $1.07 to $1.13.
In the past 24 hours, the meme coin found support at the $1.15 level, but a deeper dip could arrive. BTC also has a short-term bearish outlook, making a drop toward $1 more likely for Popcat.
On the daily timeframe, the price action and technical indicators were firmly bullish. The RSI continued to move above neutral 50 to show momentum was upward. The OBV has flattened out over the past week, and the trading volume was low.
This is a slight concern for bulls, since the strong momentum was not followed up by heavy buying.
Chances of a POPCAT range formation above $1
The Social Volume was high and has been trending upward since mid-September, and the Weighted Sentiment was also positive. This could help establish hype for Popcat and could see prices go higher due to positive expectations.
The trading volume drop in October was a blow for bullish expectations. It indicated that the market might need some time before it can expand northward again.
AMBCrypto found the liquidation heatmap gave some clues for this scenario. The $1.11 and $1.3 regions had a cluster of liquidation levels around them that could attract prices. Once swept, the meme coin’s price might see a reversal from these liquidity pools. This could establish a short-term range for the memecoin.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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