Solana-based meme coin Popcat has actually risen by 13% in the previous 24 hours. It has actually exceeded popular meme coins Shiba Inu (SHIB) and PEPE, which have actually acquired by 9% and 8%, respectively, throughout the exact same duration.
Presently trading at a brand-new all-time high of $1.74, POPCAT reveals strong momentum and appears placed to extend these gains. This analysis looks into elements that might sustain its ongoing increase.
Popcat Bulls Are in Control
BeInCrypto’s evaluation of the POPCAT/USD one-day chart validates the possibility of a prolonged rally. Readings from the meme coin’s moving typical convergence/divergence (MACD), which determines a property’s rate patterns and recognizes its prospective buy or offer signals, verify this bullish outlook.
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POPCAT MACD. Source: TradingView
The coin’s MACD line (blue) presently sits above both the signal line (orange) and the no line. This placing shows a bullish pattern, recommending upward momentum in the possession’s cost. As the faster-moving MACD line outmatches the slower signal line, it shows strong purchasing interest that might support ongoing cost boosts.
POPCAT’s Aroon Up Line is at 100% as of this writing, verifying the strength of the meme coin’s present uptrend. The Aroon sign determines the strength and instructions of a pattern. When the Up Line is at 100%, it recommends that the property’s cost has actually simply made a brand-new high.
POPCAT Aroon Up Line. Source: TradingView POPCAT Price Prediction: Meme Coin May Record New Peaks
If bullish momentum is preserved, POPCAT’s rate might extend its rally and rise past the all-time high of $1.74. According to its Parabolic Stop and Reverse (SAR) sign, the bulls presently control the meme coin market.
At press time, this sign’s dots, which recognize a property’s pattern instructions and prospective turnaround points, rest listed below POPCAT’s rate. When the Parabolic SAR dots are placed under a possession’s rate, it recommends that the possession is delighting in upward pressure and the pattern is bullish. Traders translate this as a signal to go long and exit brief positions.
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POPCAT Price Analysis. Source: TradingView
If profit-taking activity resumes, POPCAT’s cost might witness a correction and look for to develop assistance at $1.42. If this level stops working to hold, the meme coin’s worth might plunge to $1.17, representing a 33% fall from its existing worth.
Disclaimer
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