Popcat (POPCAT) price has been on a steady upward trajectory, consistently reaching higher swing levels on the chart. This bullish trend is driven by strong market liquidity and growing engagement from traders and investors. Here's what to expect as the trend unfolds.
Popcat (POPCAT) has seen a sustained bullish trend, with higher swing levels on the chart. This trend is driven by strong market liquidity and increasing engagement from traders. Here’s what to expect as the trend unfolds.
POPCAT Price Surges, Market Cap Soars amid High Demand
In the last 24 hours, POPCAT price momentum was accompanied by a surge in trading volume, rising by 8%, indicating an increase in demand. The total traded value reached $181.213 million, accounting for 28.6% of Popcat’s market capitalization.
At the time of reporting, 100% of the token’s total supply, 979.973 million, was in circulation. The fully diluted market capitalization was valued at $637.738 million, although the token’s maximum supply remains undefined.
Popcat crypto’s market capitalization also saw a significant increase, advancing by 12% in the last 24 hours to reach $636.291 Million. This increase positioned Popcat as the 86th largest token in the global market.
POPCAT Crypto Derivatives Point to Price Action
The Popcat token derivatives market saw robust activity, with a 28% surge in traded volume within the last 24 hours. This increase in trading activity reflected growing interest in the token’s derivatives.
Over the past day, the total derivatives traded volume for Popcat surpassed $485 Million, highlighting its strong presence in the market. Additionally, the token’s open interest rose by 2.1%, reaching $64.07 Million, indicating increased active positions.
Recently, a larger number of short positions have been liquidated, as seen in the token’s liquidation data. Specifically, in the last 24 hours, $416.30K worth of shorts were liquidated, compared to $362.58K in long liquidations. This suggests that bearish positions have been more vulnerable in the current market conditions as the POPCAT price keeps rising.
Strong Bullish Candles Form on Daily POPCAT Crypto Chart
The POPCAT token has maintained its position above a dynamic trendline for over two months, indicating sustained strength in the POPCAT price movement. Recently, the token saw a notable breakout at the $0.68 level, marking a significant change in its market structure.
This breakout was accompanied by strong momentum, resulting in a remarkable 70% price surge within two days. The subsequent price action further reinforced buyers’ dominance, indicating strong market demand. With this upward momentum, the POPCAT crypto could see further price advances as the bullish sentiment continues to drive its performance.
Technical Indicators on POPCAT Chart Showcase Bullish Behavior
The POPCAT token recently broke above the Supertrend ATR level, sparking a significant surge in its price. Additionally, the 20-day and 50-day EMAs have begun to overlap, indicating the potential formation of a golden cross shortly.
POPCAT/USD Chart by TradingView.com
The MACD and signal line have already formed a golden cross and continue to trade on a slightly negative trajectory. Despite this, the chart shows the formation of bullish histograms, signaling the strengthening of buying pressure.
Moreover, the RSI has advanced above the 50 level and crossed the 14-day SMA. This indicates bullish momentum in the POPCAT price, suggesting further potential gains as buyers maintain control.
The POPCAT token may find support at the $0.250 and $0.380 levels. On the upside, resistance levels at $1.00 and $2.00 could pose challenges as the token approaches these key price points.
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading
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