The post Popcat signals a potential reversal as sentiment turns positive appeared on BitcoinEthereumNews.com.

  Popcat was signaling a potential reversal to the upside as market sentiment turned positive. The memecoin could dip to a 5-month low if it fails to hold above $0.55. Since hitting $0.98 nearly two weeks ago, Popcat [POPCAT] has experienced strong downward pressure. Over this period, the memecoin has dipped to a local low of $0.49. However, over the last 24 hours, Popcat has signaled a potential trend reversal. At the time of writing, Popcat was trading at $0.5581, marking a 2.29% increase over the past day. Before these gains, the memecoin had been on a downward trajectory, dipping by 30.56% on weekly charts and 49.66% on monthly charts. With the memecoin recording moderate gains on daily charts, the question remains whether Popcat can sustain this trend and avoid further losses. What Popcat’s charts suggest According to AMBCrypto’s analysis, Popcat’s downward momentum is diminishing as buyers are entering the market. As a result, upward momentum is starting to build, and market sentiment has turned positive. Source: Tradingview AMBCrypto observed this upward strength through a bullish crossover that emerged 48 hours ago. The Stoch RSI also shows a crossover, indicating the current trend is weakening. This is confirmed by the fact that ADR has remained above 1 and surged to 1.37. When ADR is above 1, it signals that current gains are starting to outweigh losses, reflecting more capital inflow. Source: Santiment Looking further, Popcat’s market sentiment has turned positive after four days of negative trend. As such, weighted sentiment turned positive 48 hours ago. This shows that more market participants have a positive perception of the memecoin and see a potential reversal. Source: Coinglass Additionally, Popcat is currently seeing a high demand for long positions. In fact, long position holders are dominating with 51% of the total. When longs…

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Filed under: News - @ January 15, 2025 5:16 am