POPCAT, the popular meme coin, is on the move! After a bit of a lull, it’s showing some serious strength and aiming for a new record high of $1.5. Let’s take a look at what’s happening and see if it’s really going to break through that barrier.
What the Charts Are Saying
The 4-hour chart shows that POPCAT is still in a strong upward trend, even after a slight dip. It’s trading above the 100-day moving average, which is a good sign that the recent gains are solid. The Relative Strength Index (RSI) is also looking good, climbing back up to 65% after dipping down to 42%. This indicates that buyers are still in control and POPCAT could be ready to break through some key resistance levels.
The daily chart is also showing positive signs. There’s a bullish candlestick pattern that appeared after POPCAT bounced back above the 100-day moving average. This means buyers are stepping in and pushing the price higher. The RSI on the daily chart is also back up to 70%, which is usually a sign that things are getting a bit overbought. However, there’s no sign of a pullback yet, so the positive momentum seems to be holding strong.
What a Break Above $1.5 Could Mean
If POPCAT manages to break through the $1.5 resistance level, it could signal that the market is really bullish on the coin and we could see it reach new all-time highs.
However, if it can’t break through, we could see some selling pressure and a pullback towards the $1 support level. If it falls below that, things could get even worse and POPCAT could head towards even lower support levels.
Overall, POPCAT is showing some promising signs right now, but it’s still too early to say for sure if it’s going to break through that $1.5 barrier. It’s important to keep an eye on the charts and see how things develop.
