POPCAT targets $1.20 after $1.00

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 has been consolidating close to alltime highs for approximately 10 days now, and at the horizontal resistance of around $1.00.
• The RSI was initially overbought, however the consolidation has allowed it to pullback and reset very slightly although it still remains high.
• We have identified a new local zone of support between $0.88 and $0.92. We'd like and expect this zone to hold unless there is a substantial wider market crash.
• Interestingly, POPCAT has rejected off the underside of the local uptrend line (thicker turquoise line). A break above this would put POP above $1.20 and well into price discovery.
• If there is a larger move lower, we'd expect $0.77 to hold.

Cryptonary's take

Overall, POPCAT has shown a lot of strength in holding around and up at the highs. We would expect that if the wider market moves back up to the recent highs, this might provide POP with the ammunition needed to break higher and finally substantially clear back above $1.00. Positive labour market data on Friday could give us this; let's see.

Bullish short, mid, and long-term.