POPCAT Price Struggles After All-Time High – $1.45 Area Key for Future Trend

POPCAT has increased rapidly since the beginning of September, appreciating 175% to a new all-time high on Oct. 17. However, the price fell almost immediately afterward and has not reached the same heights since.

Despite the struggle, the most prominent meme coin analyst on X, Murad, believes POPCAT will increase to $5.

Let’s analyze the price action in different time frames and determine how likely this is.

POPCAT Reaches All-Time High

The POPCAT analysis from the daily time frame shows a rapid increase since the price broke out from a symmetrical triangle on Sept. 12. POPCAT also moved above the $0.65 horizontal resistance area the same day.

The upward movement led to a new all-time high price of $1.56 on Oct. 11. After a brief decline, POPCAT began another upward movement and reached a high of $1.47. Nevertheless, it failed to reach a new all-time high.

Additionally, the wave count suggests the top may be in. The most likely count shows a completed A-B-C structure, where the symmetrical triangle contains wave B. If the count is accurate, waves A:C have a 1:1 ratio, implying the POPCAT price increase is over.

Aligning with the bearish count, technical indicators show signs of weakness, visible in the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD).

Both the RSI and MACD are trending downwards. Additionally, the RSI has generated a bearish divergence (green) whose trend line is still intact, while the MACD made a bearish cross (black icon).

While the daily chart is bearish, looking at a lower time frame can help confirm if the POPCAT price has already started its correction.

Will POPCAT Break Down?

The analysis from the short-term six-hour time frame is also bearish because of the price action.

After the all-time high, the POPCAT price fell below the minor resistance at $1.45. The decline confirmed that the all-time high move was only a deviation (black circle) above this area. Since then, POPCAT has validated the $1.45 area twice (black icons), creating long upper wicks.

Moreover, the bounce that has been ongoing since Oct. 17 is contained inside an ascending parallel channel, considered a corrective pattern. Therefore, a breakdown from it is the most likely future outlook.

A breakdown from the channel will also mark a breakdown from an ascending support trend line that had existed since the start of September when the POPCAT price broke out from its long-term triangle.

So, the six-hour chart predicts a breakdown from the short-term channel, which would confirm that the price has reached a local top.

Then, POPCAT could fall toward the closest support at $1, which is both a horizontal and Fibonacci level.

POPCAT Retraces to Support

The daily and six-hour analyses indicate that the POPCAT price has reached a local top.

A breakout from the short-term parallel channel and long-term ascending support trend line will confirm this. If it happens, POPCAT could decline toward $1.

About the Author

Valdrin Tahiri

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.

[email protected] LinkedIn X.com