Popcat (POPCAT) Price Prediction: POPCAT Looks Bullish, Eyes 22% Upswing to Hit $1.5

Popular Solana [SOL]-based meme coin Popcat [POPCAT] is making waves in the cryptocurrency landscape with its impressive performance.

The meme coin Popcat (POPCAT), which is native to the Solana (SOL) network, has experienced a price correction recently, following a period of strong performance.

However, POPCAT appears to be forming a bullish double-bottom price action pattern on a daily time frame.

After a price surge of over 35% in just three days, POPCAT has returned to its original range, where it has experienced a notable price surge and is on its way to forming a bullish price action pattern.

If POPCAT maintains above the $1.1735 level, there is a strong possibility it could soar by 22% to reach the $1.5 level in the coming days.

On the other hand, if it fails to hold this level and closes a daily candle below the $1.1735 level, we may witness a significant price decline.

According to data from on-chain analytics firm Coinglass, the major liquidation levels for POPCAT are near $1.168 on the lower side and $1.259 on the upper side, with traders over-leveraged at these levels.

If the recent market sentiment remains unchanged and POPCAT’s price soars to the $1.259 level, nearly $2.56 million worth of short positions will be liquidated.

Conversely, if the sentiment shifts and the price drops to the $1.168 level, over $4.01 million worth of long positions will be liquidated.

Combining these on-chain metrics with technical analysis, it appears that bulls are currently dominating the asset and may trigger the liquidation of short positions, leading to a significant upside rally in the coming days.

The above is the detailed content of Popcat (POPCAT) Price Prediction: POPCAT Looks Bullish, Eyes 22% Upswing to Hit $1.5. For more information, please follow other related articles on the PHP Chinese website!