- Popcat price has melted to the 20-day EMA, and RSI is ready for a death crossover.
- The POPCAT crypto price has declined by 20% in the past 4 days.
Since July, the Popcat (POPCAT) price has managed to defend the $0.40 mark thrice and has bounced back. In mid-August, the POPCAT price took support on the major support level. With strong buying momentum, it surpassed the 20-day exponential moving average (EMA).
However, the recent bullish trend was interrupted near the $0.80 hurdle and showed weakness. Based on the technical chart, the Popcat price was supposed to form a head and shoulder pattern. However, the price failed to form the second shoulder and took a reversal from the neckline.
Is Popcat Crypto Planning for Massive Leg Up?
Crypto Fella (@CryptoFellaTx) has tweeted that the Popcat crypto price has the potential to keep surging ahead. Based on the technical chart, the POPCAT price is looking for another breakout.
$POPCAT (@POPCATSOLANA) is looking for another break-out. This is a true gem.
— Crypto Fella (@CryptoFellaTx) August 30, 2024
We could first test the trendline once more before a massive leg up. We will watch it closely. pic.twitter.com/z4rTAIu9v8
The price has been rising by taking support on the trendline. It is expected to test the trendline at least once before the shoot-up.
Technical Indicators
The RSI has dropped rapidly after a small fall in the POPCAT price, which is a bearish sign. The RSI is about to trigger a death crossover with the RSI-based moving average.
The Popcat crypto price has faced resistance from the Upper Bollinger Band (BB). It is heading toward the Base BB. The token may show weakness till the lower BB, which may invite sellers.
POPCAT Price Technical Analysis Over 1-D Timeframe
According to the technical chart, the Popcat price has departed from the main support level of $0.40. The price has surpassed the 20-day EMA and has come for the retest.
Since August, the price has shown mild bullishness and has defended the last swing lows. It has formed bearish candlesticks in the higher high territory. Also, the buying can be seen in the higher-low zone.
If the digital asset price takes support on the 20-day EMA and forms a bullish candlestick, it may invite buyers. Strong buying momentum can be anticipated if the recent fall converts into a pullback.
On the other hand, if the Popcat price slips below the 20-day EMA, sellers may dominate further. They may drag down the price to the $0.400 mark.
The major support level of $0.400 would be crucial. Below this level, strong selling pressure can be seen. It could be difficult for the buyers to bounce back.
Popcat Crypto Price Analysis
At the time of writing, the Popcat crypto was traded at $0.631. It has dropped by 3.28% in an intraday session. The market capitalization was $619.04 million, and the 24-hour trading volume was $119.39 Million. The Popcat price prediction indicates that the price may perform positively further.
POPCAT Price Analysis and Forecast
The POPCAT price has failed to reach the last swing high. It has been unable to show bullish momentum after exceeding the 20-day EMA.
The Popcat crypto price has defended the main support level on a daily time frame. Buyers may eye for a new all-time high if the price defends the 20-day EMA and surpasses the recent high.
Technical Levels
The bullish trend in Popcat crypto might be disturbed near the $0.800 and $1.00 hurdle. The bearish trend can be halted near the $0.650 and $0.400 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.
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