Market Direction

POPCAT holds $1.20, eyes $1.40

Published: Nov 29, 2024

POPCAT ($POPCAT) consolidates above $1.20 with $1.40 as the next resistance. Hidden bullish divergence hints at potential recovery and an uptrend reclaim.

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.

We're currently at a key juncture for POPCAT here.
It's possible that this might be a bottoming zone for POPCAT, with the price just sitting above the support box of $1.13 to $1.20.
POPCAT still has a hidden bullish divergence (a lower low on the oscillator and a higher low in price). This might help fuel a move back beyond $1.40.
$1.40 is the local horizontal resistance that POP will need to reclaim. This would also give it a chance to reclaim its uptrend.
Beyond $1.40, the key horizontal resistance is in the low $1.60's.
To the downside, we expect the grey box to hold as support.
The RSI has been reset with it at 44.

8. POPCAT daily chart displaying price holding above 1.20 support with potential bullish divergence and resistance at 1.40.

Next Support: $1.20
Next Resistance: $1.40
Direction: Neutral
Upside Target: $1.40
Downside Target: $1.13

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

Cryptonary's take

We expect this (the grey box) to be the line in the sand for POPCAT. Ideally, from here, we see it recover $1.40 and push back into the range between $1.40 and $1.60. We're going to need to see strong price action in the short term for POPCAT to potentially reclaim it's uptrend.

POPCAT has always been unreliable in its price action, and there have been many times when it's looked weak, and we've seen a monster rally follow. POP has always been a great buy-and-hold rather than a trading asset. We expect that to continue to be the case.