POPCAT (POPCAT) Faces Critical Juncture as Daily Period Flashes Bearish Wedge Pattern: TradingView Analyst

Popular meme token POPCAT is right now in a critical phase in its price movement. Popular crypto analyst on TradingView Cobra Vanguard claims that POPCAT's daily period currently exhibits a bearish wedge pattern.

The price of the popular meme token POPCAT (POP) is displaying a bearish wedge pattern on the daily period, suggesting an impending price adjustment, according to Cobra Vanguard, a well-known crypto analyst on TradingView.

“Every up needs to be reversed. That’s the nature of the market,” Vanguard noted. The closest lower high indicates a significant support level around $0.80.

POPCAT is trading at $1.47 at the time of writing, up 0.11% in the past 24 hours. The meme coin has maintained a strong presence with a market capitalization of over $1.4 billion. However, traders are closely monitoring the bearish wedge pattern for signs of a potential pullback.

Meanwhile, investor optimism remains high for the long-term future of the coin. As reported earlier, prominent meme coin investor Murad predicted that POPCAT will soon outshine another popular meme token, WIF, and highlighted the potential for a significant price increase.

Murad, who is known for his analyses of meme tokens, believes that POPCAT’s value could skyrocket. His bold prediction that the token may reach $5 during the next bull run has further fueled community excitement.

Whether the bearish correction or bullish momentum takes center stage, one thing is clear: POPCAT has grabbed the attention of many.

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