Popcat (SOL), a popular meme currency, has been stabilizing in a range-bound pattern for the past few days. This comes after the token hit a new all-time high of $1.08 on September 26. The cryptocurrency’s value has been volatile and unpredictable since reaching this rare milestone.

Data from CoinMarketCap shows that POPCAT started the week at $0.9667 and surged to an all-time high of nearly $1.08 by the end of the day. However, the token's price went through a dip, hitting a weekly low of $0.9128, before recovering and finding support above $0.95.

At the time of writing, a POPCAT token is trading at $0.9801, up 4.61 percent from its price a day earlier. However, the cryptocurrency’s trading volume is showing a more positive impression. It has increased by 47.26 percent to $211,085,489 in just one day.

The reasons for the high trading volume include the opportunity to benefit from the token's price volatility. Popcat's (SOL) daily market capitalization is currently $960,513,678, firmly placing it as the 69th largest cryptocurrency by market cap.

Popcat (SOL) coin is currently going through a consolidation phase according to technical analysis. For example, there seems to be a balance between buying and selling pressure as the relative strength index is currently hovering around the neutral level of 50.

But the relative strength index (RSI) is trending up and is currently at 52.08, so a bullish breakout is likely soon. Further confirmation of the legitimacy of this move would be provided by a crossover with the signal line at 53.34. Similarly, the directional momentum indicator shows +DI lower than -DI, ​​at 16.2005 versus 19.1453.

The bears seem to be in control of the buying and selling pressure, but the gap between them is narrowing, which could indicate that the mood is shifting to a consolidation phase. On the contrary, the ADX score, currently hovering at 17.6555, suggests that the current trend is not very strong.

Where Will Popcat Go In The Future?

The 4-hour timeframe shows that the POPCAT token, part of the Popcat (SOL) cryptocurrency, has been moving upwards within an ascending channel since September 6, when it hit a monthly low of $0.4636. Since then, the price of the meme coin has been steadily increasing, signaling a positive trend that eventually led to an all-time high of $1.08.

However, the token's symmetrical triangle pattern formation at this level suggests a short-term price consolidation. Popcat (SOL) price has been correcting itself, fluctuating within this trend. However, a large price movement is possible from a breakout in either direction.

If the bulls in the market prevail, Popcat (SOL) could see its value spike to its previous high before breaking out and setting a new record. If this happens, the POPCAT token could be pushed into the volatile zone around $1,357, an area that could see a rapid increase in price.

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