Can POPCAT Reach a New All-Time High? | Credit: Hameem Sarwar
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Key Takeaways
Popcat (POPCAT) trades just 15% under its all-time high price of $1.
It recently broke out from a triangle and $0.65 resistance area.
Can POPCAT maintain its pace and reach a new all-time high?
The POPCAT price has been moving upward since Sept. 6. The increase accelerated this week, amounting to 19% on Sept. 18. With its surge, POPCAT has become the seventh largest meme coin, the third in the Solana blockchain, and the largest cat meme coin.
Let’s examine the POPCAT price movement and see if it can reach a new all-time high.
POPCAT Price Breaks Out
The daily time frame POPCAT analysis shows that the price had traded inside a long-term symmetrical triangle since June. While the triangle is considered a neutral pattern, it is transpiring after an upward movement, making a breakout from it more likely.
After bouncing at the triangle’s support trend line (white) on Sept. 6, POPCAT started to increase and broke out from the triangle on Sept. 12. While doing so, it also reclaimed the $0.65 horizontal area, making the breakout more legitimate.
Furthermore, technical indicators validate the breakout. The Relative Strength Index (RSI) and MACD are increasing and have crossed their bullish thresholds at 50 and 0, respectively.
New POPCAT All-Time High?
The long-term POPCAT wave count also supports the ongoing upward movement. Because of the presence of the triangle, the decline since July may have been part of wave B in an A-B-C structure. The sub-wave count is in black, which implies the correction is over.
If the count is accurate, POPCAT has now started wave C. If it has the same length as wave A, POPCAT will reach a new all-time high of $1.45.
However, since a triangle cannot be part of wave two, the entire increase is corrective. So, after the target is reached, the price of POPCAT could begin a lengthy correction that takes it to new lows.
Breaking $1 Could Be Soon
The POPCAT price action and indicator readings are bullish, confirming the ongoing breakout. The wave count gives a target of $1.45 for the top of the current upward movement. This would be a new all-time high and could mark the top of the current market cycle.
Disclaimer:
Key Takeaways
Popcat (POPCAT) trades just 15% under its all-time high price of $1.
It recently broke out from a triangle and $0.65 resistance area.
Can POPCAT maintain its pace and reach a new all-time high?
The POPCAT price has been moving upward since Sept. 6. The increase accelerated this week, amounting to 19% on Sept. 18. With its surge, POPCAT has become the seventh largest meme coin, the third in the Solana blockchain, and the largest cat meme coin.
Let’s examine the POPCAT price movement and see if it can reach a new all-time high.
POPCAT Price Breaks Out
The daily time frame POPCAT analysis shows that the price had traded inside a long-term symmetrical triangle since June. While the triangle is considered a neutral pattern, it is transpiring after an upward movement, making a breakout from it more likely.
After bouncing at the triangle’s support trend line (white) on Sept. 6, POPCAT started to increase and broke out from the triangle on Sept. 12. While doing so, it also reclaimed the $0.65 horizontal area, making the breakout more legitimate.
POPCAT Daily Chart | Credit: Valdrin Tahiri/TradingView
Furthermore, technical indicators validate the breakout. The Relative Strength Index (RSI) and MACD are increasing and have crossed their bullish thresholds at 50 and 0, respectively.
New POPCAT All-Time High?
The long-term POPCAT wave count also supports the ongoing upward movement. Because of the presence of the triangle, the decline since July may have been part of wave B in an A-B-C structure. The sub-wave count is in black, which implies the correction is over.
If the count is accurate, POPCAT has now started wave C. If it has the same length as wave A, POPCAT will reach a new all-time high of $1.45.
POPCAT/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView
However, since a triangle cannot be part of wave two, the entire increase is corrective. So, after the target is reached, the price of POPCAT could begin a lengthy correction that takes it to new lows.
Breaking $1 Could Be Soon
The POPCAT price action and indicator readings are bullish, confirming the ongoing breakout. The wave count gives a target of $1.45 for the top of the current upward movement. This would be a new all-time high and could mark the top of the current market cycle.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
