bullish

Read

POPCAT

Elon Musk

Popcat, a Solana-based meme coin, has recorded an impressive rally to secure a new all-time high, defying the overall market’s shaky sentiment.&nbsp; 
This dramatic increase continues a multi-day <a href="https://crypto.news/popcat-35-percent-surge-improved-trader-sentiment/" target="_blank">trend</a>, with the asset experiencing notable upward momentum since Oct. 4. On that day, Popcat (<a href="https://crypto.news/price/popcat/" target="_blank">POPCAT</a>) rallied by 21.8%. Interestingly, Oct. 6 brought another 15.17% spike, fueling the ongoing bullish surge. 
POPCAT is up 19% in the past 24 hours and is trading at $1.45 at the time of writing. Its price has also appreciated 53% in the last week, with its market cap surging to $1.4 billion. A spike in 24-hour volume to $155.8 million confirms the growing interest. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1162" height="681" src="https://crypto.news/app/uploads/2024/10/POPCAT-1D-Chart_094808.png" alt="POPCAT hits new ATH with 19% surge despite mixed signals - 15" class="wp-image-14301978">
 <figcaption class="wp-element-caption">
 POPCAT 1D chart – Oct. 7 | Source: <a href="https://crypto.news/price/popcat/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
 You might also like: <a rel="" href="https://crypto.news/bitget-pledges-compensation-for-bgb-holders-following-50-price-drop/"> Bitget pledges compensation for BGB holders following 50% price drop </a> 
The asset’s rise pushed it to a new all-time high of $1.48 this morning, breaching the $1.07 <a href="https://crypto.news/popcat-hits-all-time-high-as-market-cap-surges-past-1b/" target="_blank">peak</a> set last month. Despite correcting slightly from $1.48, POPCAT remains in price discovery. The spike now places it above the Upper Bollinger Band at $1.338, indicating an overbought condition.&nbsp; 
This often suggests a potential price correction is on the horizon, as market participants look to take profit. However, in strong bullish trends, prices can remain overbought for extended periods, leading to further gains.&nbsp; 
The Commodity Channel Index, which is currently at 267.67, supports this. This CCI reading signals extreme buying pressure and a potential reversal if the trend weakens.&nbsp; 
Nonetheless, if buying momentum persists, this momentum could push <a href="https://crypto.news/popcat-records-22-spike-can-bulls-target-the-1-mark/" target="_blank">POPCAT</a> into higher territory before any meaningful pullback. 
Should a pullback occur, immediate support lies at $1.2172. A drop below this level would expose the coin to further losses, with $1.0698 acting as the last line of defense above the psychological $1 mark.&nbsp; 
If the price were to collapse below $1, bulls would need to defend the $0.8313 pivot level to avoid falling into bearish territory. Despite these possible risks, the price action remains bullish for now. 
 Read more: <a rel="" href="https://crypto.news/trump-extends-lead-on-polymarket-after-pivotal-speech-with-elon-musk/"> Trump extends lead on Polymarket after pivotal speech with Elon Musk </a>

POPCAT hits new ATH with 19% surge despite mixed signals

crypto.news

Other articles published on Oct 7, 2024

Cardano (ADA) and Polygon (POL) on a Rally to $1? Rexas Finance (RXS) to Disrupt the Real Estate ...

Tether Turns 10, Celebrates With New USDT Documentary on Stability in Unstable Times

Sekuya Web3 Update: September 2024

Shiba Inu Burn Rate Spikes 544%, Fueling Ecosystem Growth

Binance Introduces Exclusive Pre-Market Trading for Launchpool Tokens

October 9 Crucial for Bitcoin, Here's Why

Join our free newsletter for daily crypto updates!