Market Direction

POPCAT targets $2.40 breakout soon

Published: Nov 19, 2024

As BTC maintains its higher levels, POPCAT consolidates in a promising range, hinting at a bullish breakout. Let’s explore the market action and what's ahead for top assets.

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.

POPCAT has now consolidated into a range just shy of its highs, between $1.63 and $2.00.
If there is a breakout to the upside for POP, the target is likely in the mid $2's now following this longer consolidation period between $1.60 and $2.00.
If we then look at the RSI, it's in the middle territory at 57, so nowhere near overbought. This is due to the fact we haven't had a parabolic move higher yet.
Chart patterns/formations are messy. However, it does look as if POP is forming a bullish pennant. The breakout target would be $2.40.
On the downside, we'd expect $1.60 to be the local support and $1.40 to be the major support if $1.60 is lost.

8. Chart displaying POPCAT-USDT price action with bullish momentum forming a potential breakout above $2.40 resistance, supported by RSI strength.

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

Cryptonary's take

POPCAT has been in a general grind higher, but it is one of the Blue Chip Memes that hasn't yet made a parabolic move higher. This may, therefore, be on the cards in the short term, assuming BTC can hold at these higher levels. POP's indicators (such as the RSI) are also in healthy positions here and don't show any signs of overheating. There is room for POP to go higher here in the short and medium term. We're holding all Spot POPCAT and are not looking to sell anytime soon.