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POPCAT Hits New All-Time High With Uptrend Aiming for $2

Published
Nikola Lazic
Published
By Nikola Lazic
Edited by Ryan James

Key Takeaways

  • POPCAT’s bullish momentum shows signs of slowing.
  • The current uptrend may soon approach an uptrend peak.
  • Price reversal is likely as the wave structure nears completion.

POPCAT reached a new all-time high of $1.74 following a prolonged rally, but signs suggest its uptrend could soon be completed.

Here’s a brief analysis of what to expect next.

POPCAT Price Analysis 

After reaching its previous all-time high of nearly $1 on July 20, POPCAT’s price began to decline.

Initially, it traded sideways, reaching a lower peak of $0.96 on July 27 before entering a more pronounced downtrend.

By Aug. 5, POPCAT had dropped 73.85%, hitting a low of $0.26, where it interacted with an ascending support level.

The daily Relative Strength Index (RSI) dropped to an oversold level of 34%.

However, the price quickly rebounded, starting an uptrend, bringing it to $0.66 by Aug. 10 and $0.80 by Aug. 25.

POPCAT price analysis
POPCATUSD at new all-time high | Credit: Nikola Lazic/Tradingview  

After the sharp decline, these highs suggested a corrective upward movement, but the price remained above the descending resistance on the expected pullback.

Strong upward momentum from Sept. 6 led to a new bull phase, and today, POPCAT made a new all-time high of $1.74.

As it remains in an uptrend, there are some signs that the upside room could be limited. A bearish divergence between the daily chart RSI and the wave structure implies the price is in its ending wave. How far can it go before making a downturn? 

POPCAT Price Prediction

Zooming into the hourly chart, we see that the price made an ascending triangle from Oct. 7, an ABCDE correction as wave four of the higher degree count.

Its development ended on Oct. 26 at a low of $1.30 when a new five-wave impulse began developing. 

POPCAT price prediction
POPCATUSD $2 next target | Credit: Nikola Lazic/Tradingview 

This is assumed to be its ending wave, with two more lower-degree sub-waves expected.  Currently, POPCAT is in its wave three with slightly more upside room before it makes a minor pullback. 

However, one more higher high could bring the price to a new all-time high close to $2.

After this, we can anticipate a reversal as the momentum could halt, marking the end of the five-wave increase since Sept. 6. 

In conclusion, POPCAT has slightly more room for the upside, but the wave structure hints at an uptrend completion.

Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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