bullish

Reserve

Spot

POPCAT

Popcat, a meme coin on the Solana blockchain, recorded an impressive run, making it the top gainer among the top 100 crypto assets over the past day.&nbsp; 
The recent 50-basis-point <a href="https://crypto.news/bitcoin-surges-past-62k-following-fomcs-50bp-rate-cut/" target="_blank">rate cut</a> by the U.S. Federal Reserve has triggered bullish sentiment across the crypto market, which Popcat (<a href="https://crypto.news/price/popcat/" target="_blank">POPCAT</a>) has leveraged, recording a 22% rise in price in the past 24 hours.&nbsp; 
Popcat is trading at $0.8738 at the time of writing, extending its gains with a 39.03% surge in the last seven days. Its market cap now stands at $856.4 million, with a $135 million daily-hour <a href="https://crypto.news/glossary/volume-in-crypto-trading/" target="_blank">volume</a> signaling surging investor interest. 
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 <img loading="lazy" decoding="async" width="1162" height="681" src="https://crypto.news/app/uploads/2024/09/POPCAT-1D-Chart.png" alt="Popcat records 22% spike, can bulls target the $1 mark? - 13" class="wp-image-14298717">
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 POPCAT 1D chart – Sept. 19 | Source: <a href="https://crypto.news/price/popcat/" target="_blank">crypto.news</a>
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A pattern contributing to the surge was the rounded bottom formation on the daily chart, which often indicates a potential bullish reversal. Most of the rally occurred in the last trading session, with Popcat <a href="https://crypto.news/popcat-deja-vu-analyst-models-5000-surge-to-40/" target="_blank">gaining</a> nearly 19% yesterday, its largest intraday gain in a month. 
 You might also like: <a rel="" href="https://crypto.news/spot-bitcoin-etfs-see-52-7m-outflows-led-by-ark-21shares/"> Spot Bitcoin ETFs see $52.7m outflows led by ARK 21Shares </a> 
The Fibonacci pivot points suggest resistance at various levels, starting at $0.88 and moving higher to the all-time high at $1.09. As the bulls look to again surpass the $1 price level, the $0.88 resistance threshold presents a formidable roadblock. 
On the downside, immediate support lies at $0.75, with lower supports at $0.54 and $0.32. The price recently pushed above the critical $0.46 level, which was highlighted by analysts as a key indicator for a bullish breakout.&nbsp; 
According to an X post by the pseudonymous analyst Impulsive Dom, this breach signals a solid upward momentum, with the possibility of Popcat targeting the $2 to $3 range on a third Elliott Wave push, provided the momentum continues. 
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 <a href="https://twitter.com/search?q=%24POPCAT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$POPCAT</a> about to pop? 📈 If <a href="https://twitter.com/hashtag/POPCAT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#POPCAT</a> holds above $0.46, there's a solid chance it pushes past the July high. In that case, I'd be looking at a 3rd wave targeting $2-$5. But don't be a degen at these levels, downside to the August low is 70% — manage your risk and position size. <a rel="nofollow" href="https://t.co/IfQH37rQe7" target="_blank">pic.twitter.com/IfQH37rQe7</a>— impulsive dom (@impulsivedom) <a href="https://twitter.com/impulsivedom/status/1836658743720739288?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">September 19, 2024</a>
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Additionally, the Williams %R indicator, which currently stands at -2.93, points to an overbought condition. Readings closer to zero indicate that the asset might be nearing a short-term top, and the market could face selling pressure soon. A pullback from this level is possible, given the recent sharp rise. 
Looking ahead, if Popcat maintains its momentum, the $1 target could come into play. However, caution is advised, as failure to hold above $0.75 could lead to a retest of lower support levels near $0.54 and $0.32. 
 Read more: <a rel="" href="https://crypto.news/200m-in-crypto-liquidated-following-50bps-fed-rate-cut/"> $200m in crypto liquidated following 50bps Fed rate cut </a>

Popcat records 22% spike, can bulls target the $1 mark?

crypto.news

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