POPCAT (POPCAT) Price Prediction: Will the Cat-Themed Memecoin Continue to Outperform?

Popcat (POPCAT), a Solana-based cat-themed memecoin, has continued to outperform. The token recorded a new all-time high (ATH) in the overnight session of $1.81.

Popcat (POPCAT), a Solana-based memecoin, has continued to trade in the green. The token price recorded a new all-time high (ATH) in the overnight session at $1.81.

It has been trading within a rising parallel channel and showing inherent strength. The upper hand that POPCAT bulls have had showed their dominance.

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As the token experienced strong bullish momentum, the bull army was aiming to fetch the $2 mark next. At the time of writing, the POPCAT price was trading at $1.69, noting an intraday decline of over 1.20%.

Over the last seven days, the trading volume noted a massive upsurge. That noted an upward rise of over 220%. A long-term uptrend was intact, and higher highs and higher lows were noted on the charts. It resembled the continued uptrend.

POPCAT’s Bullish Surge: A POPCAT Technical Analysis

The daily chart setup of POPCAT crypto conveyed a bullish structure. It was sailing in uncharted territory beyond the significant moving averages.

A glance at POPCAT’s technical indicators suggested the rally may extend further. The Relative Strength Index (RSI) triggered a positive divergence. That signaled an imminent follow-on surge.

Moreover, the MACD indicator plotted a positive crossover. This highlighted a potential bullish momentum. However, the 4-hour MACD line slipped below the signal line. This slip revealed a slight retracement during the intraday session.

The Average Directional Index (ADX) reading was close to 37. It indicated a strong bullish trend. A crypto analyst, Cryptojack, highlighted in his post on the X platform that a broadening rising wedge was spotted on the daily chart.

He further stated that the POPCAT price was inching closer to the upper region of the wedge. It may reach the $2 mark before a significant dip in the coming sessions.

Textbook perfect broadening wedge on #Popcat. TA couldn't get more simple than this! $POPCAT has excellent shorting and longing opportunities right now. pic.twitter.com/pH8K0DUjxA

Meanwhile, another analyst, Murad, explained the long-term price predictions with massive targets in his tweet. He mentioned that the POPCAT crypto had breached its rising diagonal resistance and gained immense momentum.

With this aggressive bullish momentum, a rally toward the $5 mark is imminent for the upcoming sessions.

$POPCAT is breaking out above Rising Diagonal Resistance. This is very bullish.

Velocity is increasing. Acceleration to $5 soon, imo. pic.twitter.com/lOeAomHpSu

Per the Fib extension indicator, there is a possibility that the POPCAT price continue to push higher. In that case, a cross above the $1.80 mark would permit the bulls to catch the $2 and $2.20 mark next.

A drop below the $1.48 mark would lead to a significant retracement of the $1.20 mark in the following sessions.

Futures Market Data Suggests Potential For Further Upside

During the intraday session, the Open Interest (OI) noted a drop of over 3.20% to $262.81 Million. That signified a long unwinding move over the past 24 hours.

Amidst a one-way bullish rally, the POPCAT holders were looking to book partial profits at the highs. This resulted in a significant POPCAT price drop intraday.

However, a 10-20% surge was still on the cards. Also, the memecoin will continue to deliver more upside in the coming sessions.

For the past two weeks, the OI-weighted funding rate remained positive. At press time, it was around 0.0185%. This implied a severe demand for long contracts.

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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