Market Direction

POPCAT targeting $2 after consolidation

Published: Nov 12, 2024

POPCAT remains strong after a 200% rally, holding between $1.40 and $1.70. As BTC and SOL consolidate, POPCAT could see another breakout soon. Here’s what to watch.

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.

Considering POPCAT was up 200% between the start of September thought to the end of October, it has done well to hold at it's highs.
POP remains range-bound and consolidates between $1.40 and $1.60, with the occasional push up to the $1.70's.
The main resistance for POPCAT will be $1.73 and then $1.81. A break above that likely swiftly sends POP to $2.00.
The RSI remains in very middle territory (at 54) as POP hasn't broken out, but rather just consolidated.

8. POPCAT price chart showing consolidation within range, with resistance at 1.73 and potential breakout target toward 2.00.

Next Support: $1.40
Next Resistance: $1.73
Direction: Neutral/Bullish
Upside Target: $1.70 (and then $2.00)
Downside Target: $1.40

Cryptonary's take

Despite BTC and SOL's breakout, POPCAT hasn't run higher, even with WIF breaking out back above $3.00. POPCAT has remained towards the top of its range, and it has consolidated between $1.40 and $1.70. This has allowed some of the indicators to reset.

We would expect that when Bitcoin slows down and consolidates, WIF and POPCAT can both run. WIF run, and then POPCAT follows. A break above $1.80-$1.90 and we could see POPCAT re-price considerably higher.