The cryptocurrency market is showing a notably mixed performance today, as both Bitcoin (BTC) and Ethereum (ETH) trade slightly in the red. Despite this, Popcat (SOL) (POPCAT) is coming into the spotlight with noticeable gains.
POPCAT has surged by an impressive 11% today, extending its weekly rally to 28%. More importantly, the latest price action suggests that the token may be gearing up for a stronger move.
Descending Broadening Wedge Breakout
As illustrated in the daily chart, POPCAT had been consolidating for several months inside a descending broadening wedge, a bullish reversal formation that often emerges near the end of prolonged downtrends.
The token found firm footing around the wedge’s lower boundary at $0.1029, where buyers stepped in aggressively to defend the level. This accumulation phase eventually fueled a strong breakout above the wedge’s descending resistance line near $0.1564, marking POPCAT’s first decisive bullish breakout since mid-October.
Following the breakout, the token climbed above $0.1621, showing resilience and early signs of trend reversal. The volume uptick accompanying the breakout further reinforces buyer conviction, suggesting that momentum may continue in the near term.
What’s Next for POPCAT?
From a technical standpoint, the breakout structure remains highly constructive. If bulls maintain their grip, POPCAT may look to retest the breakout zone around $0.1564 to confirm it as new support before advancing further.
The next significant resistance to watch lies around the 100-day moving average at $0.1749. A clear reclaim and daily close above this level could strengthen bullish sentiment and potentially open the path toward $0.2307, which represents the measured move target of the descending broadening wedge — implying a possible 42% upside from current prices.
However, if POPCAT fails to hold above the breakout trendline, it could temporarily slip back into consolidation, delaying the next wave of bullish momentum.