POPCAT price prediction – New ATH, but is there more to come too?

POPCAT

As a seasoned crypto investor with a knack for spotting trends and interpreting technical indicators, I find myself quite intrigued by the recent surge of POPCAT (POPCAT). The breakout on the back of appreciable trading volume was a clear sign that this memecoin is gaining momentum.

Starting on September 25th, the price of Popcat [POPCAT] encountered strong resistance near its peak from July, at the $1 mark. However, it successfully broke through this barrier with confidence on October 3rd. This move has created a significant gap for the bulls to navigate freely above them.

As an analyst, I find myself reflecting on the recent achievement of POPCAT‘s meme coin, reaching an unprecedented all-time high at $1.22. If we continue to see upward momentum, any further gains would indeed place us in new ATH (All-Time High) territory. Given this context, it becomes important to consider potential future price targets for POPCAT. While I am not a fortune teller, historical patterns and market dynamics can offer some insights. Let’s explore possible price levels that might be on the horizon for our beloved meme coin.

Fibonacci extension levels give trading targets

POPCAT price prediction – New ATH, but is there more to come too?

Those investors who have a longer investment timeline may choose to hold onto their POPCAT shares for approximately the next 6-8 months. This strategy, often applicable to cryptocurrencies, is commonly referred to as “sell in May, go away”. Essentially, it means taking a break from investing during the summer months and returning later in the year.

In the upcoming weeks, Fibonacci extension levels could prove crucial for traders. Currently, the price has surpassed the 23.6% extension level at $1.18. Potential future price points to watch include $1.46 and $1.75.

As a crypto investor, I’ve noticed that the On-Balance Volume (OBV) hasn’t managed to surpass the resistance level set in July, indicating that there’s definite buying interest, but it’s not overpowering at this moment. However, the Moving Average Convergence Divergence (MACD) paints a bullish picture, with a strong crossover well above the zero line, suggesting a robust and intense bullish momentum in the market.

How traders can use liquidation levels to their advantage

POPCAT price prediction – New ATH, but is there more to come too?

The area of easy access to funds near $1 to $1.1 has been emptied, and the token has also moved past that zone. Since there are few points with high sell orders above this range, it’s difficult to identify clear price targets due to the absence of significant liquidation levels.

Realistic or not, here’s POPCAT’s market cap in BTC’s terms

Instead of focusing solely on the higher timeframes, traders might also consider examining lower timeframe heatmaps for potential accumulation of liquidity levels beneath the current price, particularly if POPCAT prices appear to have extended bullishly. At this moment, there seems to be a small area of liquidity around $1.1-$1.3. If the price were to dip, it could potentially trigger a reversal in this region.

2024-10-05 17:11

Fibonacci extension levels give trading targets

How traders can use liquidation levels to their advantage

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