Similar to other altcoins in the market, Notcoin (NOT) has experienced a price surge over the past 24 hours. During this time frame, NOT has risen by 8%, and its trading volume has increased by 85%, signaling heightened interest in this Telegram coin.
Amidst the current market turbulence, Notcoin is at a pivotal point that could dictate its near-term trajectory. Should NOT fail to surpass this important resistance, it risks encountering a significant pullback that could lead to a drop in its price.
Challenges Faced by Notcoin
At present, Notcoin is trading at $0.0078, which is still 73% below its peak price. Despite recent increases in both price and volume, indicative of a potential rally, the analysis over a 4-hour period suggests that the token might face obstacles as it aims for $0.011.
The 4-hour chart depicts Notcoin striving for $0.0080; however, this level has previously served as resistance where the coin encountered pushback. If Notcoin does not succeed in breaking above this price point, it could experience a 10% dip, potentially lowering its price to $0.0072.
Read more: 5 Best Notcoin Wallets for 2024
A daily timeframe assessment of Notcoin reveals that its Relative Strength Index (RSI) is still under the neutral 50.00 threshold. The RSI serves as a momentum indicator, assessing the pace and magnitude of price movements.
If the RSI surpasses the midpoint, it indicates bullish momentum and a potential increase in price. Conversely, a drop in the RSI indicates a weakening of momentum.
For Notcoin, the RSI is trending upward but remains below the signal line, suggesting that the uptrend is uncertain. The token’s ascent is likely to remain unstable unless buying pressure increases significantly.
NOT Price Forecast: Possible End to the Rally
In addition, the Fibonacci retracement tool offers insights regarding NOT’s forthcoming movements. In the short term, bulls may attempt to exceed $0.0085. However, Notcoin experienced a decline from this zone, dropping to $0.0072 on September 6.
This area thus acts as a supply zone, necessitating substantial buying momentum to overcome. Currently, it appears that Notcoin lacks significant capital flow to sustain the upswing.
Read more: Notcoin (NOT) Price Forecast 2024/2025/2030
In a scenario marked by a significant downturn, Notcoin’s price might decline to $0.0072 and possibly fall as low as $0.0069. Conversely, if the token successfully breaches the $0.0080 and $0.0085 resistance levels, it might potentially rally to $0.011.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis is purely for informational purposes and is not intended as financial or investment advice. BeInCrypto is dedicated to providing accurate and unbiased reporting, though market conditions may change without prior notice. Always do your own research and seek advice from a professional before making any financial choices. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Dutch
English
French
German
Greek
Italian
Portuguese
Russian
Spanish