On the daily chart of POPCATUSDT, the price has recently broken out of a descending trendline that has been acting as resistance since December 2024. This breakout signals a potential trend reversal from bearish to bullish.
Currently, the price is in a retest phase, revisiting the breakout zone, which also aligns with a strong support and Fibonacci retracement area:
Support zone: $0.34 – $0.38
Fibonacci 0.618: $0.3490 (major technical support)
Fibonacci 0.5: $0.3759 (typical retest level after breakout)
If the price holds above this zone and forms a bullish confirmation candle, it strengthens the case for continued upward momentum.
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Pattern and Market Structure:
Descending Triangle Breakout: The price has broken out of a long-standing descending triangle pattern, which is typically a bullish reversal signal — especially if supported by volume (not shown in chart but crucial).
Neckline Retest: The current move is retesting the breakout zone, a common behavior after significant breakouts.
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Bullish Scenario:
If the price holds above the $0.34–$0.38 zone and forms bullish price action:
Potential targets based on Fibonacci levels:
Target 1: $0.5665
Target 2: $0.7254
Target 3: $0.9358
Major targets: $1.2247 and possibly $1.6029 if bullish momentum sustains
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Bearish Scenario:
If the price fails to hold above $0.34 and breaks down below the support:
Potential downside towards $0.26 – $0.20 zone
If selling pressure intensifies, it may revisit the key support low around $0.1178
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Conclusion:
POPCATUSDT is at a critical decision point. The breakout from the descending trendline is an early bullish signal, but confirmation from the $0.34–$0.38 retest zone is essential. If it holds, a strong bullish rally may follow. However, a failure to hold could signal a false breakout and resume the bearish trend.
#POPCAT #POPCATUSDT #CryptoBreakout #AltcoinAnalysis #ChartPatterns #TechnicalAnalysis #FibonacciLevels #CryptoTrading #BullishSetup #BearishScenario
Currently, the price is in a retest phase, revisiting the breakout zone, which also aligns with a strong support and Fibonacci retracement area:
Support zone: $0.34 – $0.38
Fibonacci 0.618: $0.3490 (major technical support)
Fibonacci 0.5: $0.3759 (typical retest level after breakout)
If the price holds above this zone and forms a bullish confirmation candle, it strengthens the case for continued upward momentum.
---
Pattern and Market Structure:
Descending Triangle Breakout: The price has broken out of a long-standing descending triangle pattern, which is typically a bullish reversal signal — especially if supported by volume (not shown in chart but crucial).
Neckline Retest: The current move is retesting the breakout zone, a common behavior after significant breakouts.
---
Bullish Scenario:
If the price holds above the $0.34–$0.38 zone and forms bullish price action:
Potential targets based on Fibonacci levels:
Target 1: $0.5665
Target 2: $0.7254
Target 3: $0.9358
Major targets: $1.2247 and possibly $1.6029 if bullish momentum sustains
---
Bearish Scenario:
If the price fails to hold above $0.34 and breaks down below the support:
Potential downside towards $0.26 – $0.20 zone
If selling pressure intensifies, it may revisit the key support low around $0.1178
---
Conclusion:
POPCATUSDT is at a critical decision point. The breakout from the descending trendline is an early bullish signal, but confirmation from the $0.34–$0.38 retest zone is essential. If it holds, a strong bullish rally may follow. However, a failure to hold could signal a false breakout and resume the bearish trend.
#POPCAT #POPCATUSDT #CryptoBreakout #AltcoinAnalysis #ChartPatterns #TechnicalAnalysis #FibonacciLevels #CryptoTrading #BullishSetup #BearishScenario
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.