POPCAT's price surged by a significant 34.15% in the past 24 hours, accompanied by increased trading volume. This rally is attributed to bullish momentum indicated by rising buying pressure, Fibonacci retracement levels being breached, and active participation from bulls in the futures market.
posted a 34.15% move higher within the past 24 hours of trading, and the volume also climbed appreciably. This came alongside aFibonacci levels plotted based on the POPCAT price drop in late August showed that the 78.6% retracement level was beaten during the recent price surge .The RSI on the 12-hour chart showed bullish momentum has reigned over the past ten days, and the OBV was steadily rising. Together they showed upward momentum due to rising buying pressure.
This was a sign that the rally was solid and likely to continue. The next targets would be the $1 and $1.18 resistance levels, the local high, and the Fibonacci extension level.The recent 23% move saw the Open Interest climb from $49.2 million to $69 million, showing active participation from bulls in the Futures market.POPCAT Profit Calculator
The high Funding Rate also suggested the same thing over the past couple of days. Yet, the spot CVD has been flat for a week, showing buying and selling were balanced in the spot market and contradicting the OBV.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionAkashnath Sumukar works as a Senior Journalist at AMBCrypto.
POPCAT Cryptocurrency Price Surge Bullish Momentum Futures Market
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