Attention traders! 🚨 $POPCAT/USDT is making waves with an impressive +15.25%, trading at $0.4163. But not everything is rosy!
While the moving averages MA7 ($0.4145) and MA25 ($0.4130) are on a good upward streak, indicating positive sentiment, the chart shows a possible "ceiling" around $0.4289 (24h high). Watch out for that level! 🧐
The taker sell volume has been quite active at certain moments, which could indicate profit-taking or even manipulation. Pay attention to how the Long/Short average is being distributed! We see an interesting movement, where the Long/Short average is falling, which could suggest they are closing long positions, or that the bears are starting to show up. They might be incentivizing purchases to then sweep the stops of those who entered late.
The key now is to see if POPCAT can break and consolidate above $0.4289. If it does, we could see a new bullish momentum. However, if that level acts as strong resistance, we could be looking at a pullback to the $0.4145 area or even the support of the MA99 at $0.3968.
Volatility is high, so trade wisely and manage risk like champions!