POPCAT Breaks the Consolidation, Eyes on 50% Rally
The post POPCAT Breaks the Consolidation, Eyes on 50% Rally appeared first on Coinpedia Fintech News
The sentiment across the cryptocurrency landscape seems to be shifting. Amid this, Popcat (POPCAT), the popular Solana-based meme coin, is poised for a massive upside rally. On January 17, 2025, POPCAT reversed its continuous price decline, gaining 22% after experiencing a 75% drop over the past two months.
This price rally follows a prolonged period of decline and consolidation that the meme coin has experienced for several days.
POPCAT Technical Analysis and Key Levels
According to expert technical analysis, POPCAT appears to be moving into bullish territory after breaking out of a consolidation zone. Following this breakout, the meme coin has reached a crucial trendline resistance level, which has consistently acted as a barrier, leading to price reversals.
Since November 2024, POPCAT’s price has reached this level three times, and each time, it has experienced a reversal or decline.
POPCAT Price Prediction
Based on the recent price action and current market sentiment, the trend appears to have completely shifted, increasing the likelihood that POPCAT could breach the resistance level this time.
If the meme coin breaches this resistance level and closes a daily candle above $0.80, there is a strong possibility it could soar by 50% to reach $1.18, the next resistance level.
Despite the recent breakout, POPCAT remains below the 200 Exponential Moving Average (EMA) on the daily chart, a key indicator of an ongoing downtrend. However, the increasing RSI near oversold territory suggests potential upside momentum.
Current Price Momentum
At the time of writing, POPCAT is trading at $0.713, having surged over 22% in the past 24 hours. However, during the same period, trading activity appears to have skyrocketed, resulting in a 15% increase in trading volume, potentially driven by the recent breakout.
