POPCAT testing $1.40 resistance again

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• It's a really tricky price action for POPCAT recently, having been in a more meaningful downtrend, with POP not really having experienced one of these for a while.
• Price found support in the grey box between $1.13 and $1.19 and has now moved back up to retest the old support of $1.40 as new resistance, and the price is currently looking as if it's rejecting there.
• POPCAT remains out of its main uptrend line and is now also below both key levels of $1.40 and then $1.60.
• However, we do still have the hidden bullish divergence (lower low on the oscillator and a higher low in price) in play, which may help drive a stronger bounce for price.
• The RSI is also now in the middle to the low territory at 46, so there is an upside to be had. But there is still room for a downside also.

• Next Support: $1.20
• Next Resistance: $1.40
• Direction: Neutral
• Upside Target: $1.40 (then $1.60)
• Downside Target: $1.20

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Cryptonary's take

POPCAT also looks to be range-bound here between $1.20 and $1.40, and although the TA isn't very bullish here, we do have a hidden bullish divergence in play. Alongside this, the ALT and Meme market does seem to be recovering slightly, so if POPCAT is going to see a more substantial upside in the immediate term, it's likely going to be due to being dragged up by the rest of the market.

It's also possible that POP does remain range-bound in the immediate term, though, between $1.20 and $1.40. We continue to hold Spot bags despite this being somewhat of a more uncomfortable hold recently.