Popcat the Solana meme coin is the only crypto among the top Solana meme coins list to have upward performance amid market turbulence. POPCAT on Thursday registered a weekly surge of 84% and only 4% down in the monthly frame. In the press time, Popcat is trading at $0.456 with 24 hout change of -2.27% and volume down to 58%.
The other Solana members show a slower price action in 7 days of the frame, the top WIF dipped 3.8%, BONK dipped 2.5%, and BOME is up 2%.
Despite this slowdown, the memecoin seasons are expected to explode anytime with the growth in Bitcoin price and overall market condition.
Popcat Will Undergo correction but for a pullback
In the POPCAT/USDT 4-hour chart, we can see a short-term correction. The price is trading near the center line of Bollinger bands, this indicates a consolidation phase in the process. Also, the wide bands represent decreasing volatility.
Additionally, the Volume oscillator shows a decrease of -42%, showing increased selling pressure and volume falling to an all-time low.
While the technology indicates a correction, the price is above all short-term, mid-term, and long-term moving averages giving thrust to the price to remain above $0.35.
Will POPCAT hold above $0.45?
With the current price action and increased selling pressure, the POPCAT may find a trade zone between $0.42 and $0.45, the support area. The price will continue a sideway momentum until the market recovers or the memecoin session occurs.
If the market behaves resilient to the current trend, POPCAT can breach above the crucial resistance $0.53 and a breakout above this will rally towards a time of $0,72.
Traders keep watch in the support zone for any further correction, but any correction from here onwards will be a buying opportunity for Popcat.