Catecoin Price Prediction: CAT Leaps 35% – Is the Feline Fever Real?

Updated: 28 September 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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After a long decline, Catecoin (CAT) is ready for a price rebound. Although the token fell 29% in 24 hours, it traded at $0.000000878906 at 9:41 a.m. EST. Furthermore, its daily trading volume shows a 76% drop in trade at $584,119.

Catecoin (CAT) Poised to Plunge Deeper

Catecoin (CAT)/USD Price Chart — Catecoin CAT/USD Price Chart.Source: Dextools.io

The descending triangle in CAT suggests a struggle between bulls and bears, as evidenced by two lower lows and two lower highs. This pattern signals a continuation of the bearish trend in CAT’s price.

The bearish outlook is further supported by the 21-day simple moving average, trading above the price at $0.000000110. This shows ongoing selling pressure on CAT’s price. Additionally, the price appears to have encountered resistance at the upper boundary of the descending triangle.

If selling pressure persists, Catecoin could break below the lower boundary of the triangle, confirming the bearish momentum.

The Relative Strength Index (RSI) also shows intense selling pressure as it trades downward at 44, approaching the oversold region of 30. Further downward movement could push the RSI below the 30 level.

The price outlook for CAT remains bearish because of the combined factors of the moving average and the descending triangle pattern. Critical areas to monitor are $0.0000001028 and $0.0000000743.

Conversely, the bulls may seize an opportunity at the lower boundary of the triangle to drive the price higher. Key levels to watch include $0.0000001196.

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