POPCAT, a Solana-based meme coin, has experienced sharp price swings, including an 11% drop in 24 hours. Despite this, it remains above the crucial $1.21 support.
POPCAT Faces Market Challenges
The market momentum for POPCAT indicates a developing bearish trend. The Relative Strength Index (RSI) has been declining over the past two months. This signals growing selling pressure, with the RSI nearing the critical neutral level of 50.0. If it falls below, bearish momentum could strengthen further.
External factors, such as broader crypto market conditions and regulatory shifts, could also weigh on POPCAT’s performance. Meme coin sentiment is highly reactive, and any downturn could impact its price trajectory.
Mixed Sentiment Amid Funding Rate Optimism
Despite recent losses, POPCAT continues to attract attention from retail traders. A positive funding rate suggests many are betting on an uptrend. High funding rates often signal strong buying interest, which could help the coin regain momentum.
However, market sentiment is split. Optimism among retail investors clashes with caution from others. If the broader market cools, POPCAT could face further price corrections.
POPCAT Price Prediction: Key Levels to Watch
In the past 24 hours, POPCAT lost 11.4% but maintained support above $1.21. This level has held for nearly two months, providing a foundation for potential recovery.
If the meme coin surpasses $1.49, it could surge toward $1.74, marking a bullish breakout. However, failure to hold $1.21 would expose it to further declines, with the next support level at $1.00. A drop below this point could signal extended consolidation or bearish movement.
