Analyst Says Altcoin That’s Rallied Over 21,000% Year-to-Date at a ‘Do-or-Die’ Level, Updates Outlook on Bitcoin
A widely followed cryptocurrency analyst and trader is saying that an altcoin in the Solana (SOL) ecosystem is at a critical juncture. The analyst pseudonymously 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” level. Based on Sherpa’s POPCAT chart, it appears that the Solana-based memecoin has formed a head and shoulders pattern on the daily time frame and could plunge if the support level fails to hold. A head and shoulders pattern is typically considered a bearish pattern in technical Analysis . Source: Sherpa/X POPCAT is trading at $0.802 at time of writing, up by 21,147% since the January 5th low of $0.00379. Next up is Bitcoin (BTC). According to Sherpa, there are several reasons to remain bullish on Bitcoin and other crypto assets, even after a recent correction that saw the flagship digital asset briefly dip below the $100,000 price. “Bitcoin dominance has yet to come ...