Market Direction

POPCAT testing $1.50 resistance after pullback

Published: Oct 11, 2024

After pulling back from a recent high of nearly $1.50, POPCAT is pushing higher. Can it break past resistance and test the $1.60-$1.80 range? Here’s today’s price forecast.

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.

After breaking out of the $1.00 to $1.08 region, POP went in to price discovery to the upside. It peaked close to $1.50 and then saw a more than 20% pullback.
The price is now pushing higher again, with the RSI having reset somewhat, which had previously been very overbought.
To the downside, we'd expect $0.92 to $1.08 to act as a new support range with likely only a 'black swan' event taking price beneath this level.
To the upside, the prior all-time highs would be the local resistance, but potentially not much of a resistance.

8. POPCAT price chart showing an uptrend with support and resistance levels, along with RSI near overbought territory.

Next Support: $1.08
Next Resistance: $1.50
Direction: Neutral/Bullish
Upside Target: $1.60-$1.80
Downside Target: $0.92

Cryptonary's take

If we're right on the wider market grinding higher over the weekend, and WIF pushing up to $3.05, then it's possible that POPCAT can break above it's all-time highs and potentially test to $1.60 to $1.80 region.