Popcat Price Soars: What’s Driving the 82% Weekly Surge?

Popcat Price Soars to $0.72 After Binance Futures Contract Launch

A significant positive trend was observed in Popcat last week, which was accompanied by an increase in the value of cryptocurrencies overall. In the last week, Popcat’s price has increased 82.10%, from $0.393 on August 19 to a high not seen since July 30. The asset is presently trading at $0.7262, having dropped 3.44% in the last 24 hours alone.

With its market capitalization now above $711 million, Popcat is the 86th-largest cryptocurrency by market cap as a result of the recent spike. Around $79.1 million worth of trades are made there every day. As per the exchange’s latest release, one of the main reasons for this price increase was the launch of Popcat perpetual contracts on Binance Futures, which provide traders with up to 75x leverage.

• Popcat is currently up from these low points in a positive trend, trading above the middle Bollinger Band at $0.5595.
• It may still be able to rise higher before encountering heavy resistance, even though it is still below the upper Bollinger Band, which is currently at $0.7897.

Bullish Momentum Persists as +DI Outweighs -DI in DMI Indicator

The difference between the -DI line at 15.9105 and the +DI line at 27.7603 is greater. This indicates a present imbalance in favor of the buying pressure over the selling push. Bollinger Bands’ bullish signal is supported by the DMI configuration, which highlights the persistently optimistic sentiment as the +DI continues to outweigh the -DI.

• With an RSI of 62.73, the number is still below the usual overbought marker of 70 but much above the neutral barrier of 50.
• The market may still have more room to increase before being overextended, despite the fact that this shows significant upward momentum without straying into overbought territory.

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