As several meme coins slowly gained traction over the past weeks, Popcat exploded massively to a two-month high today. The price is now on the verge of breaking out of a monthly resistance as it continues to surge.

Compared to most altcoins during the overall market correctional phase, which is slowly coming to an end on a monthly scale, Popcat maintained an upward movement despite all the drawbacks that came in the form of a retracement in the past months.

This bullish swing started after testing its lowest price level of $0.1 in mid-April – marking exactly a month after launching into the market.

It further created support above the mentioned price level and exploded to $1 in July – registering a 10x gain within the space of two months. A rejection occurred and the price dropped heavily into the June low range during last month’s crash, although it quickly recovered from the range.

That recovery brought a new swing high as the price increased straight for two weeks to where it is trading bullishly at $0.91. It may print a new high shortly as this Solana-based meme coin sets for a huge price break. For a drop, we expect the rising trendline to provide support in case of a broader retracement.

As Popcat charges towards the $1 resistance, a successful break above it should activate a bigger rally to the $1.2 and $1.4 levels – considered as a new high in the short-term before rallying hard to $2 in the future.

The closest support level to watch for a pullback is $0.8. After that, the $0.66 level is the next to keep an eye on, followed by the $0.5, where the rising support trendline lies.

Key Resistance Levels: $1, $1.2, $1.4

Key Support Levels: $0.8, $0.66, $0.5

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: armmypicca/123RF // Image Effects by Colorcinch

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