A broadly adopted cryptocurrency analyst and dealer is saying that an altcoin within the Solana (SOL) ecosystem is at a important juncture.
The analyst pseudonymously generally known as Sherpa tells his 234,700 followers on the social media platform X that the memecoin Popcat (POPCAT) is at a “do-or-die” degree.
Based mostly on Sherpa’s POPCAT chart, it seems that the Solana-based memecoin has shaped a head and shoulders sample on the every day timeframe and will plunge if the assist degree fails to carry. A head and shoulders sample is often thought-about a bearish sample in technical evaluation.
POPCAT is buying and selling at $0.802 at time of writing, up by 21,147% for the reason that January fifth low of $0.00379.
Subsequent up is Bitcoin (BTC). According to Sherpa, there are a number of causes to stay bullish on Bitcoin and different crypto belongings, even after a latest correction that noticed the flagship digital asset briefly dip under the $100,000 value.
“Bitcoin dominance has but to come back down.
Ethereum has but to completely ship.
January is an extremely bullish time for crypto.
[US President-elect] Trump is pro-crypto, owns some, and has his personal decentralized finance (DeFi) challenge.
….and also you’re promoting??”
Bitcoin is buying and selling at $100,624 at time of writing. Bitcoin dominance, the ratio of the market cap of Bitcoin relative to the remainder of the crypto market, is at the moment at 54.7% down by a number of share factors from the 2024 excessive of 58.99% recorded mid-last month.
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