Popcat Price Analysis: POP Enters Consolidation Phase After Failing to Break Higher, What's Next?

Following the recent market drawdown that led most meme coins into a serious reduction this week, Popcat remained stable above a key level and entered a brief consolidation phase after several failed attempts to break higher.

Meme coin Popcat (POP) remained stable above a key level following the recent market sell-off that led to a sharp reduction in the majority of meme coins.

After several failed attempts to break higher during the consolidation phase, Popcat entered a brief consolidation phase, which was marked by a lack of interest and a decrease in volatility.

However, things took a positive turn yesterday when the price managed to break through the critical resistance level of $1.1, which had been a key hurdle for the bulls during the consolidation phase. The price continued to rise on Friday, reaching almost $1.3.

A further increase in volatility could lead to greater gains in the near term, before a pullback begins. The recent breakout level, on the other hand, serves as an immediate support to watch for a potential pullback.

A drop below this level could trigger a deeper pullback, with the price testing the six-month rising support line. If that happens, we can expect a quick buyback, but for now, there are no signs of a drop.

Popcat is currently ranked as the third-largest meme coin in the Solana ecosystem, with a market cap of $1.25 billion.

Popcat’s Key Levels To Watch

Now that the price is trading well above $1, the next key resistance level for a buy would be $2. But before then, it may face a small hurdle at the $1.4 and $1.7 levels before reaching the resistance level.

The weekly broken $1.1 resistance level is now considered as support. If the price drops and fails to hold above this support, the next support to keep in mind is the $0.9 level. Below it lies $0.8 and $0.66.

Key Resistance Levels: $1.4, $1.7, $2

Key Support Levels: $1.1, $0.9, $0.66

This is not trading or investment advice, and it should not be construed as such. Before purchasing any cryptocurrency or participating in any service, always conduct your own study and consult a qualified financial advisor.

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