POPCAT gains momentum for $1.60 push

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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• Unfortunately, the price rejected perfectly from the underside of the uptrend line, and the price declined by 35%.
• POPCAT is one that we have unfortunately got wrong recently, as we didn't expect the drawdown that was experienced.
• Price found liquidity between $1.00 and $1.10, which used to be a prior horizontal resistance back in late September.
• Price is now attempting a bounce with the next major horizontal resistance overhead at $1.40. Beyond $1.40, it's $1.60.
• We would expect new support going forward to be the grey box between $1.13 and $1.19.
• The RSI has been at low/mid levels for some time now, and we do have a new hidden bullish divergence despite the old one not playing out.

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

• Next Support: $1.10
• Next Resistance: $1.40 
• Direction: Neutral
• Upside Target: $1.40 (then $1.60)
• Downside Target: $1.10

Cryptonary's take

POPCAT is likely to take more time here before it starts performing well again. This is simply due to the chart structure now being broken, which takes time to repair and recover. However, price-wise, POP did look very attractive yesterday in comparison to other major memes, and that's the first thing that will get new buyers back in.

Overall, this is likely to take more weeks (which is fine, and it's similar for other coins), but we still remain very constructive for POPCAT. We hold all Spot POPCAT, and we're not looking to sell anytime soon.