Popcat experienced a significant bullish trend last week, driven by a broader cryptocurrency market uplift.
Over the past seven days, Popcat’s (POPCAT) price surged 95.7%, rising from $0.393 on Aug. 19 to peak levels not seen since July 30. In the past 24 hours, the asset rose by 2.2%, currently trading at $0.75.
This surge boosted Popcat’s market capitalization beyond $735 million, making it the 102nd-largest cryptocurrency by market cap. Its daily trading volume hit approximately $76.4 million.
A major catalyst for this price rise was the listing of Popcat perpetual contracts on Binance Futures, announced recently, which offers traders up to 75x leverage.
As it stands, Popcat’s price is above the middle Bollinger Band at $0.5595, indicating a bullish pattern from lower levels. However, it remains below the upper Bollinger Band at $0.7897, suggesting further room for upward movement before encountering significant resistance.
The gap between the lower Bollinger Band at $0.3292 and the upper band at $0.7897 indicates moderate market volatility. While the current price nears the upper band, it hasn’t hit it, implying the market hasn’t yet reached an overbought condition, allowing further upward movement.
The +DI line stands at 27.7603, surpassing the -DI line at 15.9105, showing stronger buying pressure over selling pressure.
The DMI setup confirms the positive sentiment with the +DI’s dominance over the -DI, consistent with the bullish signal from the Bollinger Bands. Traders may look for buying opportunities, anticipating a test of the upper Bollinger Band at $0.7897, unless new market factors alter this trend.
The RSI value is 62.73, well above the neutral 50 but below the overbought threshold of 70, indicating strong upward momentum without overbought conditions, suggesting further potential for price increases.
