Technical Analysis Of POPCAT On Daily Time Frame

Aug 24

The POPCAT token price has shown consistent advancement over the past two months, maintaining its position above a dynamic trendline.

By July 20th, the price peaked at $1.001, but instability in gains led to a deterioration in price. However, the fall led to the formation of the support at the $0.35 demand zone, a crucial zone.

Recently, it broke through a key level of $0.65, which is a Change of character (CHoCH) level. This has resulted in a 70% price surge within just two days, indicating strong buyer dominance.

This upward momentum suggests the potential for further price increases, based on the sustenance above the CHoCH level.

Similarly, the 20-day and 50-day EMA bands are converging, hinting at a possible golden cross in the near future, which would be a strong bullish sign ahead. Although the MACD and the signal line are in a golden cross, they remain in a negative vicinity, accompanied by bullish histograms at 0.0322.

Likewise, the RSI has climbed above the 50-level and the 14-day SMA, currently at 63.30, reflecting bullish momentum for the POPCAT token.

Support levels are anticipated at $0.507 and $0.380, while resistance is expected at $0.95 and $1.50. A further rise above these levels could lead to a new all-time high once the supply level is surpassed.