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Cryptocurrency News Articles
PopCat Prices Skyrocket to New All-Time Highs With Increasing Chances of a Crypto Market Bull Run. Will This Rally Surpass $2?
Oct 07, 2024 at 04:36 pm
PopCat has established a new all-time high, sustaining dominance above the $1.40 mark and heading toward the psychological barrier of $1.50
The price of PopCat has soared to a new all-time high amid rising optimism for a crypto market bull run. Could this rally propel the meme coin past the $2 mark?
PopCat price hit a new record high on Monday, continuing its strong ascent amid broader market recovery. The meme coin surged by 18.60% in the last 24 hours.
The buying pressure pushed the meme coin up by over 50% in the past seven days. At press time, the PopCat token was trading at $1.44, while the meme coin had a market cap of $1.413 billion.
Could this bull run in PopCat prices hit the $2 mark?
PopCat Breakout Rally Gathers Speed
On the daily chart, PopCat reveals a breakout from a cup and handle pattern. Notably, the bullish breakout occurred with a massive engulfing candle—a 21.61% surge on October 4.
Beginning a streak of four consecutive bullish candles, the meme coin continued to climb following the breakout from the cup and handle pattern. This rally pushed the daily RSI into the overbought zone.
Meanwhile, both the 50-day and 20-day EMAs displayed a positive trend in bullish alignment.
In addition to the cup and handle breakout, the daily price action of PopCat shows a failed attempt at a rising wedge pattern. The reversal pattern faltered as the overhead resistance trend line quickly lost strength.
Moreover, the breakout from the consolidation range below the $1.00 psychological mark fueled the bullish rally.
This highlighted the massive surge in demand for the meme coin over the past few days.
Where Is PopCat Price Headed?
Applying the trend-based Fibonacci levels from the previous week, the PopCat token is currently challenging the 100% Fibonacci level at $1.4423.
The retracement tool indicates that the next price targets for the meme coin are $1.7757 and $2.3155 at the 1.6180% and 2.6180% Fibonacci levels, respectively.
On the flip side, the crucial support for the meme coin are present at 78.60% and 61.80% Fibonacci level at $1.3269 and $1.2363 respectively.
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