Price Analysis

Popcat SOL, The Only Performing Solana Memecoin Now

  • Popcat remains the only Solana crypto with gains with the overall market down.
  • POPCAT technicals and indicators reveal short-term correction and pullback trends. 

Popcat the Solana meme coin is the only crypto among the top Solana meme coins list to have upward performance amid market turbulence. POPCAT on Thursday registered a weekly surge of 84% and only 4% down in the monthly frame. In the press time, Popcat is trading at $0.456 with 24 hout change of -2.27% and volume down to 58%. 

The other Solana members show a slower price action in 7 days of the frame, the top WIF dipped 3.8%, BONK dipped 2.5%, and BOME is up 2%. 

Despite this slowdown, the memecoin seasons are expected to explode anytime with the growth in Bitcoin price and overall market condition. 

Popcat Will Undergo correction but for a pullback

In the POPCAT/USDT 4-hour chart, we can see a short-term correction. The price is trading near the center line of Bollinger bands, this indicates a consolidation phase in the process. Also, the wide bands represent decreasing volatility. 

Additionally, the Volume oscillator shows a decrease of -42%, showing increased selling pressure and volume falling to an all-time low.

While the technology indicates a correction, the price is above all short-term, mid-term, and long-term moving averages giving thrust to the price to remain above $0.35. 

Will POPCAT hold above $0.45? 

With the current price action and increased selling pressure, the POPCAT may find a trade zone between $0.42 and $0.45, the support area. The price will continue a sideway momentum until the market recovers or the memecoin session occurs.

If the market behaves resilient to the current trend, POPCAT can breach above the crucial resistance $0.53 and a breakout above this will rally towards a time of $0,72. 

Traders keep watch in the support zone for any further correction, but any correction from here onwards will be a buying opportunity for Popcat. 

SOURCE

Leave a Comment

data data data data data data data data data data data data data