{"id":456674,"date":"2025-01-04T08:30:42","date_gmt":"2025-01-04T03:00:42","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=456674"},"modified":"2025-01-03T17:59:33","modified_gmt":"2025-01-03T12:29:33","slug":"popcat-breaks-key-support-will-it-reach-1-20-soon","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/popcat-breaks-key-support-will-it-reach-1-20-soon\/","title":{"rendered":"POPCAT breaks key support: Will it reach $1.20 soon?"},"content":{"rendered":"<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">On-chain metric revealed that exchanges have witnessed an outflow of $1.69 million worth of POPCAT.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Currently, 52.97% of top traders held long positions, while 47.03% hold short positions.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/predictions\/popcat-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Popcat [POPCAT]<\/a>, the popular <a href=\"https:\/\/ambcrypto.com\/predictions\/solana-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana [SOL]<\/a>-based memecoin, appears to be shifting its market sentiment due to its current price action on the daily timeframe. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This shift comes as the memecoin reflects broader sentiment changes across the cryptocurrency landscape, where top assets like <a href=\"https:\/\/ambcrypto.com\/predictions\/ripple-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ripple [XRP]<\/a>, Solana, and <a href=\"https:\/\/ambcrypto.com\/predictions\/cardano-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Cardano [ADA]<\/a> have witnessed notable gains.<\/span><\/p>\n<h2><b>POPCAT\u2019s bullish on-chain metrics\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Since December 2024, POPCAT has experienced a significant price decline of over 65%. Despite this drop, investors have shown strong interest and confidence, as they appear to be accumulating the token, according to the on-chain analytics firm Coinglass.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data from POPCAT&#8217;s Spot Inflow\/Outflow metric revealed that exchanges witnessed a significant outflow of $1.69 million worth of POPCAT in the past 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Spot Inflow\/Outflow refers to the movement of tokens between exchanges and wallets, providing insights into investor sentiment.<\/span><\/p>\n<figure id=\"attachment_456680\" aria-describedby=\"caption-attachment-456680\" style=\"width: 1717px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960.png\"><img decoding=\"async\" class=\"wp-image-456680 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960.png\" alt=\"Spot inflow\/outflow \" width=\"1717\" height=\"482\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960.png 1717w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960-300x84.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960-1024x287.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960-768x216.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960-1536x431.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/image-2025-01-03T150610.960-1200x337.png 1200w\" sizes=\"(max-width: 1717px) 100vw, 1717px\" \/><\/a><figcaption id=\"caption-attachment-456680\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This metric indicates that long-term holders have moved the tokens from exchanges to their wallets, potentially signaling accumulation. In the cryptocurrency landscape, outflow is often seen as a sign of a potential buying opportunity and possible upside momentum.<\/span><\/p>\n<h2><b>Traders\u2019 rising interest\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As long-term holders show confidence, traders are also increasing their interest in POPCAT, with open interest rising significantly in the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Coinglass data, POPCAT&#8217;s Open Interest has surged by 8.7% in the past 24 hours. At press time, the Long\/Short Ratio stood at 1.126, indicating bullish sentiment among traders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data reveals that 52.97% of top traders currently hold long positions, while 47.03% hold short positions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Combining these on-chain metrics, it appears that bulls are currently dominating the asset, which could help the memecoin reach its predicted target in the future.<\/span><\/p>\n<h2><b>POPCAT technical analysis and key levels<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to AMBCrypto\u2019s technical analysis, POPCAT has recently broken out of a prolonged consolidation zone and established a crucial support level at $0.70. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, POPCAT has not only experienced a breakout but has also closed a daily candle above the narrow zone, indicating a bullish signal.<\/span><\/p>\n<figure id=\"attachment_456678\" aria-describedby=\"caption-attachment-456678\" style=\"width: 1461px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261.png\"><img decoding=\"async\" class=\"wp-image-456678 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261.png\" alt=\"POPCAT technical analysis\" width=\"1461\" height=\"760\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261.png 1461w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261-300x156.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261-1024x533.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261-768x400.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/POPCATUSDT_2025-01-03_15-01-52-e1735896839261-1200x624.png 1200w\" sizes=\"(max-width: 1461px) 100vw, 1461px\" \/><\/a><figcaption id=\"caption-attachment-456678\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Based on the technical analysis, there is a strong possibility that the memecoin could soar by 25%, reaching the $1.20 level in the future. Currently, indicators like the Relative Strength Index (RSI) were well below the overbought zone, suggesting a potential upside rally.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><b>Read <a href=\"https:\/\/ambcrypto.com\/predictions\/popcat-price-prediction\">Popcat&#8217;s [POPCAT] Price Prediction<\/a> 2024\u20132025<\/b><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">At press time, POPCAT was trading near $0.86 and has experienced an upside momentum of over 5.35% in the past 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the same period, its trading volume surged by 7%, indicating increased participation from traders and investors compared to the previous day.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>POPCAT could soar by 25% to reach the $1.20 level 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