POPCAT tests $0.92 support amid drawdown

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 rejected off the underside of the main uptrend line, and the price fell to the support box between $1.13 and $1.19, and unfortunately, it wasn't able to hold.
• Price is now seemingly testing into what we'd call the last support zone between $0.92 and $1.10. Price needs to hold this area, or we might risk seeing panic sellers (assuming we haven't had them come out of the woodwork already).
• POPCAT is also in a main downtrend, although we could begin to see a squeeze into this main downtrend line in the coming 7-10 days, which then could result in a breakout to the upside.
• The resistances for the price would be at $1.40 and then $1.63.
• The RSI has meaningfully reset, and it's now not far from being oversold territory. Soon, this might look attractive to big players who might be enticed by the oversold conditions and potentially set up a good risk/reward for POPCAT.

• Next Support: $0.92 to $1.10
• Next Resistance: $1.20 (then $1.40)
• Direction: Neutral
• Upside Target: $1.40
• Downside Target: $0.92

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

Cryptonary's take

POPCAT has absolutely been a tricky watch over the last few weeks, although with the current drawdown being at 47%, you'd have to say that this is a normal/typical pullback for this kind of asset and one we've seen many times already with POPCAT. We are watching the $0.92 to $1.10 zone as a key support zone, and that price needs to find support and begin to hammer out a base.

Then, a push towards the downtrend would set up a bullish structure. For now, though, we're expecting the price to be range bound between $0.92 and $1.10 and hammer out a base. We remain to hold all Spot bags.