POPCAT eyes breakout after price recovery

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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• POPCAT did make a convincing break down below the main uptrend line, however price was able to bounce and quickly recover.
• Whilst a range is tricky to establish, it looks to us like the key levels of support and resistance are $1.40 and $1.63 (give some slight flexibility to this though).
• The RSI has pulled back from the highs following the price dip, however it would healthy for POPCAT to see price remain range bound for some more days/week here.
• A breakout above $1.63 likely sends POP back to $1.80.
• A breakdown of $1.40 likely sends POP back down to $1.20, although we would be surprised to see this level ($1.20) revisited.

• Next Support: $1.40
• Next Resistance: $1.60
• Direction: Neutral
• Upside Target: $1.60
• Downside Target: $1.40

Cryptonary's take

We expect POPCAT to be range-bound over the coming days between $1.40 and $1.60, whilst we think WIF can lead in terms of price moving higher in the immediate term. We're looking for WIF to make a move higher, and then for POPCAT to follow it, following WIF's move.