After months of decline, Bitcat found support this week and exploded by over 256% following a sudden surge in volatility in the past 24 hours. It remains strong daily despite witnessing a sharp rejection yesterday.
The last 24 hours saw the entire crypto market through a major bleeding after weeks of recovery from a year low. Triggered by a slight decrease in Bitcoin’s price, few altcoins are currently defying the market odds.
Despite the latest market bleeding, few Solana-based tokens are showing strength, including Bitcat, which is currently up following a major surge in volatility. This came after locating support above $0.0002 this week, and as we can see, it appears strong daily as trading landscape changed.
Considering the slight change in the landscape, it will be too early to say Bitcat is bullish. A further upsurge in volatility could lead to a notable shift in the trend. But as it stands, the market structure is still considered bearish on the daily chart.
However, looking at the latest buy setup, which indicates increase in the demand level, this crypto may see more recoveries in the coming days. If that fails, Bitcat may rollback to the recent bottom. A crack below the bottom level could trigger another bearish phase capable of sending the price to $0.0001 in the near term.
Bitcat’s Key Level To Watch
Despite the recent sharp rejection, Bitcat reiterated its actions and is now charging back. A push above yesterday’s $0.00143 high could rally the price to $0.0022 and $0.0036 in no time.
Failure to sustain momentum could lead to a rollback. There’s close support at $0.00066. If the price falls below it, the $0.0003 level is the next support to watch before dipping to the $0.00022 level.
Key Resistance Levels: $0.00143, $0.0022, $0.0036
Key Support Levels: $0.00066, $0.0003, $0.00022
- Spot Price: $0.0008
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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