POPCAT testing $0.54 support zone

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 in a major downtrend for some time now, and like WIR, it has lost some key levels, with the rejection into the horizontal resistance at $0.92 being a key to the continued downside.
• POPCAT is now finding some support at the horizontal level of $0.54, with $0.40 the next major horizontal level below.
• To the upside, $0.71 is now a new local resistance, with $0.92 still being the major horizontal level for the price to flip.
• The RSI is sat on top of oversold territory, but it has put in its second bullish divergence (lower low in price, but higher low on the oscillator).

• Next Support: $0.54
• Next Resistance: $0.71
• Direction: Neutral
• Upside Target: $0.70
• Downside Target: $0.40

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

Cryptonary's take

Like other memes, POPCAT has sold off substantially, down 75% from its all-time highs. But, the price is now squeezing into its downtrend line, and the price is very oversold, having now also put in two bullish divergences. Whilst it's possible that the price goes lower (possibly the Yellow Buy box), it's also possible that the coins at the furthest end of the risk curve (memes) have sold off first and that possibly the majority of their drawdown is done.

However, we're not expecting a substantial upside in the short-term, and it's, therefore, possible we see price build a range at the lows whilst the majors (BTC, ETH and SOL) continue to go lower. Let's see.

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