The post Popcat records 22% spike, can bulls target the $1 mark? appeared on BitcoinEthereumNews.com.

Popcat, a meme coin on the Solana blockchain, recorded an impressive run, making it the top gainer among the top 100 crypto assets over the past day.  The recent 50-basis-point rate cut by the U.S. Federal Reserve has triggered bullish sentiment across the crypto market, which Popcat (POPCAT) has leveraged, recording a 22% rise in price in the past 24 hours.  Popcat is trading at $0.8738 at the time of writing, extending its gains with a 39.03% surge in the last seven days. Its market cap now stands at $856.4 million, with a $135 million daily-hour volume signaling surging investor interest. POPCAT 1D chart – Sept. 19 | Source: crypto.news A pattern contributing to the surge was the rounded bottom formation on the daily chart, which often indicates a potential bullish reversal. Most of the rally occurred in the last trading session, with Popcat gaining nearly 19% yesterday, its largest intraday gain in a month. The Fibonacci pivot points suggest resistance at various levels, starting at $0.88 and moving higher to the all-time high at $1.09. As the bulls look to again surpass the $1 price level, the $0.88 resistance threshold presents a formidable roadblock. On the downside, immediate support lies at $0.75, with lower supports at $0.54 and $0.32. The price recently pushed above the critical $0.46 level, which was highlighted by analysts as a key indicator for a bullish breakout.  According to an X post by the pseudonymous analyst Impulsive Dom, this breach signals a solid upward momentum, with the possibility of Popcat targeting the $2 to $3 range on a third Elliott Wave push, provided the momentum continues. $POPCAT about to pop? 📈 If #POPCAT holds above $0.46, there’s a solid chance it pushes past the July high. In that case, I’d be looking at a 3rd…

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Filed under: News - @ September 19, 2024 10:27 am