Popcat: Bearish trend emits the potential for further decline.
POPCAT broke the ATH price record at US$2.08 about a week ago but since then the price has fallen sharply. Now, POPCAT is recorded to have fallen 21.00% in the last seven days.
This downward action was also accompanied by a bearish signal. The short-term EMA line crosses the long-term EMA line, thus forming a death cross pattern. This technical pattern reflects increasing selling pressure as well as the potential for a further drop.
Now the token is traded near $1.224, decreased 1.72% in last 24H.
If the correction continues, POPCAT could test support at US$1.17, and is at risk of dropping to the US$0.9 level if the lower support collapses.
However, if momentum reverses, POPCAT has the potential to rise to test the US$1.82 area. And if this resistance falls, the price could return to the US$2 level and have the potential to set a new ATH price record.
source: id. beincrypto. com