Simon’s Cat crypto up 12% in a day, 86% in 3 – What’s behind the surge?
- Simon’s cat crypto has a strongly bullish momentum and volume
- The divergence the meme exhibited close to the two-month range high could see a pullback
Simon’s Cat [CAT] saw a huge rally this week. The meme coin had been trading within a range since mid-September. On the 21st of October, it skyrocketed from the range’s lows after Binance announced the token’s listing on its derivatives market.
At press time, CAT was trading just 6.4% below the range highs. However, there was a divergence between the price and momentum. Will Simon’s cat crypto see a deep retracement?
Signs of overextension
Source: CAT/USDT on TradingView
The range formation (purple) extended from $0.0000236 to $0.0000466. The mid-point of this range was at…
