Popcat Price Primed For Surge to the $0.8000 Mark

After last week's price surge of over 100%, which was supported by strong buying volume, investors are eyeing the $0.8000 mark.

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Popcat price (POPCAT) recorded a double bottom pattern breakout last week, following which its price surged by over 100%. The buying volume also soared during this rally.

After surging last week, POPCAT crypto continued to trade higher this week and could gain nearly 40% in the next seven days. Following a 20% retracement over the last five sessions, POPCAT price reached the 20 day EMA support zone. However, the volume change during this retracement is insignificant, indicating a weak fall.

Yesterday, OKX announced that it will be listing perpetual futures for POPCAT crypto. This news is expected to improve investor confidence and could extend the bullish rally.

POPCAT Price Primed For A Surge to the $0.8000 Mark After surging by over 100% last week with strong buying volume, investors are now eyeing a move towards the $0.8000 mark.

With a volume surge of over 230% last week, investors piled up fresh longs. Considering this, a move towards $0.8000 is very much on the cards for POPCAT.

Currently, POPCAT price trades at $0.6299 with an intraday drop of over 9.20%, indicating profit-booking. While the trading volume surged only by 5% to $126.60 Million.

A 5% surge is relatively insignificant, indicating that this week’s 20% retracement is unlikely to dent the overall bullish trend. Today, the POPCAT price retested the 20-day EMA mark and moved closer to the upward trendline support at $0.6100. This price action could see the token gain in the rising channel and consolidate the bullish trend.

During the second week of August, a double bottom pattern was confirmed near the demand zone of $0.3700, following which POPCAT crypto surged by over 80%.

Its Daily RSI curve is still above the midline region, at 54, though it got a slight push from the top, highlighting weak bearish pressure.

POPCAT Crypto by TheCoinRepublic on TradingView.com Technical indicators suggest that the higher tops and higher bottoms could extend and the memecoin may revisit its 50% Fib level at $0.8000 in the coming sessions. Crypto Analyst @AltcoinSherpa highlighted that POPCAT price revisited its strong support zone of $0.6100 and may continue the rise.

$POPCAT still looks pretty strong for now, great S/R retest. If it guns for the highs again, this will be the leading category for memes and also CAT beta pic.twitter.com/JWv8xxuuBV

Tweet by AltcoinSherpa

As we can see, POPCAT price is still in a bullish trend, and if it continues to rise, it could reach the $0.8000 mark. However, if the token fails to maintain its momentum and begins to fall, it could encounter support at $0.5800 and $0.5500.

Weighted Sentiment Data Confirms Positive Outlook Along with the price surge, weighted sentiment data supported the positive price action outlook, as it stayed above the zero line.

Weighthed Sentiment Data

However, the social dominance data saw a decremental move, as the curve fell below the midine to 0.207.

Futures Open Interest (OI) shed over 9.89% to $51.56 Million, reflecting a long unwinding move in the last 24 hours.

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