The post POPCAT breaks the consolidation, Eyes on 50% rally appeared on BitcoinEthereumNews.com.

POPCAT’s Long/Short ratio had a reading of 1.05, indicating strong bullish sentiment among traders POPCAT’s RSI suggested there may be enough room for the memecoin to rally With the larger market on the road to recovery, Solana-based memecoin POPCAT caught the attention of many traders and investors. This, after the altcoin broke through a prolonged consolidation phase on the charts, one that lasted more than eight days. POPCAT breaks out from prolonged consolidation On the back of this breakout, the sentiment around POPCAT might be poised to shift from a downtrend to an uptrend. In fact, the memecoin already registered a price surge of over 23%. However, at press time, some minor price correction seemed to be underway.  The last two and a half months have not been favorable for the memecoin, as it faced sustained bouts of downside momentum leading to a price drop of over 70%. In addition to the price decline, the memecoin has also faced resistance from a trendline. This has contributed to a price reversal whenever POPCAT’s price approached it. POPCAT technical analysis and key levels This time too, after recording a price surge of over 23%, the price reached the trendline. At the time of writing, it seemed to be facing a price correction at this level. According to AMBCrypto’s technical analysis, if POPCAT breaches this strong trendline and closes a daily candle above the $0.75-level, there is a strong possibility it could soar by 50% to hit the next resistance level of $1.15 in the future. Source: TradingView Right now, the memecoin is trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that it is on a downtrend. On the positive side, with POPCAT’s Relative Strength Index (RSI) at 43, a technical indicator suggested there may be enough room…

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Filed under: News - @ January 18, 2025 9:18 pm