POPCAT hits new ATH with 19% surge despite mixed signals

Popcat’s impressive rally to a new all-time high is a standout in the current market landscape. After initiating its upward trend on October 4, the meme coin has shown consistent momentum, with significant daily gains. Following a 21.8% surge on October 4, it added another 15.17% on October 6, contributing to its 19% rise in the last 24 hours.

Currently trading at $1.45, Popcat has seen a remarkable 53% increase over the past week, elevating its market cap to $1.4 billion. The surge in 24-hour trading volume to $155.8 million further underscores the heightened interest from investors, indicating a strong bullish sentiment despite the broader market’s volatility. This performance places Popcat among the top meme coins to watch as it continues to gain traction in the Solana ecosystem.

Popcat’s rise to a new all-time high of $1.48 reflects strong buying momentum, despite a slight correction from that peak. The asset’s current position above the Upper Bollinger Band at $1.338 indicates an overbought condition, often a precursor to a price correction as traders look to secure profits.

The Commodity Channel Index (CCI) reading of 267.67 reinforces this notion of extreme buying pressure, suggesting that while a pullback could be imminent, the bullish trend might still have room to run if buying interest remains strong.

In the event of a pullback, immediate support is at $1.2172. A break below this level could lead to further declines, with $1.0698 acting as critical support just above the psychological $1 mark. Should prices drop below that threshold, bulls will need to defend the pivot level at $0.8313 to avoid a shift into bearish territory.

For now, the overall price action remains bullish, but traders should be prepared for potential volatility as the market digests these recent gains.