Market Direction

POPCAT’s target: $1.40 then $1.60

Published: Dec 6, 2024

POPCAT is consolidating between $1.20 and $1.40 with a hidden bullish divergence. If resistance breaks, $1.60 is the next target. Support holds strong at $1.13-$1.19.

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.

In a very similar situation to WIF, the price is just rangebound between $1.20 and $1.40.
For POPCAT, the key level for the rice to comfortably close above is $1.40. Over the last few days, we've seen Price attempt this but reject it a few times.
On the downside, the key support remains the grey box between $1.13 and $1.19. We expect this zone to hold if the rice breaks down again.
The RSI is low on POPCAT at just 46, so there is room for price to go either way. We do, fortunately still have a hidden bullish divergence that is now playing out. That could be what sends the price back to $1.60.

8. Daily POPCAT chart highlighting consolidation, resistance near 1.40, and RSI indicating potential for upward or downward movement.

Next Support: $1.20
Next Resistance: $1.40
Direction: Neutral
Upside Target: $1.40 (then $1.60)
Downside Target: $1.13 - $1.19

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

Cryptonary's take

POPCAT remains at a crucial point. Whilst it's out of the main uptrend and below the $1.40 horizontal resistance, POPCAT may struggle for flows, and traders might look for other opportunities.

It's really important that POPCAT reclaims the $1.40 level. However, as long as POPCAT can hold above $1.20, there's no panic from us over here.

We expect POP to remain range-bound, and if it does break out to the upside, that'll likely be due to it being dragged up by the rest of the market. For now, we remain holding Spot bags.