The post Popcat eyes massive breakout after surpassing $1—Is a 26% surge coming? appeared on BitcoinEthereumNews.com.

Popcat’s $1 breakthrough sparks speculation of a 26% surge, with key resistance at $1.05. Bullish signals suggest Popcat could push to $1.3350, but mixed volume data keeps traders cautious. Popcat [POPCAT] has surged past the critical $1 mark, with its market cap now surpassing $1 billion. POPCAT is attracting attention due to increased trading activity, which reached a 24-hour volume of $153 million.  Despite recent volatility, Popcat has shown resilience, although the price has declined slightly by 1.02% over the last 24 hours, per Coingecko. Popcat’s market momentum comes as traders monitor its potential for further gains. The current market environment suggests that the coin is eyeing a breakout from its $0.90 – $1 resistance zone, which aligns with a technical pattern that could signal further upward movement. Inverse head and shoulders pattern indicates bullish reversal The POPCATUSD chart displays a clear inverse head-and-shoulders pattern, a bullish technical indicator suggesting a potential reversal. The neckline, which is positioned around $1.05, has become a critical resistance point.  If the price manages to break above this level, it could trigger a strong upward move toward the next target of $1.3350, representing a possible 26% price surge. Source: TradingView However, if the price fails to break the neckline, key support lies around $0.90, the point where the right shoulder formed. This level provides a safety net, allowing traders to gauge the risk of a failed breakout.  Should Popcat break through the neckline, traders are eyeing intermediate resistance at $1.20, with the potential for continued bullish momentum toward the $1.3350 target. POPCAT indicators suggest further upside potential Meanwhile, the Bollinger Bands indicate mild volatility in the market, with the price touching the upper band near $1.0680, signaling potential short-term overbought conditions.  A pullback toward the middle band at $0.9923 could occur if selling pressure…

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Filed under: News - @ October 3, 2024 7:26 pm