POPCAT eyes $1.10 upside potential

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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• We had a huge move down in early December from $1.50 down to $0.70.
• Price is now forming a bearish pennant pattern at the lows, which is usually bearish, but we actually expect a breakout to the upside.
• The RSI was well into oversold territory. We now have a bounce in the RSI, and it has broken out to the upside of its moving average.
• We expect $0.70 to maintain as major support, with a breakout of the pennant likely to send the price back to $0.92 to retest that horizontal level as the new resistance.
• If the price can break out and reclaim $0.92, then it's very possible we will see $1.10 retested also.
• What will also be interesting is to see how the price moves along the main downtrend line. POPCAT has proven previously that when it breaks out of major downtrend lines, the move higher can be violent.

Looking for an accurate POPCAT price prediction? Read our analysis to know what’s next for POPCAT!

• Next Support: $0.70
• Next Resistance: $0.92
• Direction: Neutral
• Upside Target: $0.90
• Downside Target: $0.70

Cryptonary's take

Overall, similar to WIF, shocking price action. However, the price is now at the lows (seemingly), whilst the indicators are coming out of oversold territory. You'd expect a bounce from here, particularly if BTC and SOL can bounce also.

We're expecting something like the arrows to play out.