Last week, Popcat had a significant upward trend that matched the general rise in the cryptocurrency market.
Popcat's (POPCAT) price has surged 95.7% in the last seven days, from $0.393 on August 19 to a high not seen since July 30. The asset has gained 2.2% just in the past day and is now trading at $0.75.
Popcat is now the 102nd-largest cryptocurrency by market value, with a market valuation of almost $735 million thanks to its recent increase. Its trade volume has increased to almost $76.4 million per day.
The introduction of Popcat perpetual contracts on Binance Futures, which provide traders with up to 75x leverage, was a major factor in this price increase, the exchange recently said.
Currently, Popcat's price is above the $0.5595 middle Bollinger Band, pointing to a bullish advance up from lower levels. It does, however, stay below the upper Bollinger Band, which is located at $0.7897, indicating that there may be more possibility for growth before running into serious resistance.
Moderate market volatility is indicated by the breadth between the top Bollinger Band at $0.7897 and the bottom band at $0.3292. Although the price has recovered from lower levels, it hasn't yet hit an overbought position, suggesting that there may still be room for more upward movement. This is indicated by the present price approaching the upper band but not quite reaching it.
The -DI line is at 15.9105, whereas the +DI line is at 27.7603, higher. This demonstrates that there is now more purchasing pressure than selling pressure.
The DMI configuration, which is in line with the bullish signal from the Bollinger Bands, highlights the persistently optimistic attitude as the +DI continues to dominate the -DI. With these signals, traders may search for possible buying opportunities, expecting the market to test the upper Bollinger Band around $0.7897 in the near future until fresh factors arise that change the direction of the present trend.
With an RSI of 62.73, the number is still below the usual overbought marker of 70 but well over the neutral barrier of 50. The market may still have more room to increase before being overextended, despite the fact that this shows significant upward momentum without straying into overbought territory.
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