NOT is a popular telegram-based altcoin, that has seen significant price fluctuations over the past day despite its remarkable growth in the GameFi sector. Amid the current crypto volatility, Notcoin price prediction points to a dip below the $0.015.
According to CoinMarketCap data, trading activity remains robust, with a 24-hour trading volume of $222 million, a 15% decrease from the previous day.
Notcoin Price Prediction: How Low Can NOT Go?
Over the past 24 hours, Notcoin has been trading in a narrow range, indicating a low of $0.01397 and a high of $0.01539. This tight fluctuation points to a period of uncertainty where it faces stiff resistance and support levels.
Over the past week, the cryptocurrency market has seen mixed trends, with Notcoin trading in a descending trend. Notcoin price prediction reveals that after experiencing a notable surge and hitting a weekly high of $0.018 on 20th July, the Notcoin price has declined steeply. The price chart shows a sharp decline, marking a 16% decrease over the week.
A notable bearish trend has emerged, casting a shadow over the cryptocurrency’s recent performance. Despite a slight uptick in trading volume, which saw a 0.38% increase, reaching $908.26 million, the overall market sentiment remains pessimistic due to a significant decline in open interest.
According to Coinglass, open interest for Notcoin has plummeted by 14%, now at $142 million. This sharp decline indicates that traders are closing out their positions, potentially signaling a lack of confidence in the coin’s near-term prospects.
Can NOT Overcome the $0.015 Barrier Soon?
Notcoin price prediction shows a notable decline as it maneuvers through a tough bear market. If this trend continues, Notcoin will likely stabilize at $0.013. A worsening market sentiment could further reduce its value to $0.01, showcasing a stronger bearish trend. A continued decline might bring it down to $0.009.
Conversely, rising optimism among investors could herald a bullish turn. Such a shift in sentiment might cause Notcoin to break past the $0.015 resistance. Following this bullish trajectory, the digital currency could reach $0.02 and aim for $0.05 in upcoming developments.
Technical Indicators Show Continued Downward Momentum
The 4-hour technical indicators for Notcoin illustrate a mixed sentiment in its recent trading sessions. The Relative Strength Index (RSI) has dipped below the neutral 50 line, resting at approximately 31.15, an oversold condition and potentially a bearish sentiment in the market.
The Moving Average Convergence Divergence (MACD) also shows a bearish signal. The MACD line crossing below the signal line suggests that downward momentum will likely continue.
The Awesome Oscillator (AO) transitioned from a positive surge to a decreasing trend, indicating a potential loss in upward momentum. The Average Directional Index (ADX) stood at 29.06, suggesting that the market was experiencing a moderately strong trend during the earlier price rise, which has since weakened.
The post Notcoin Price Prediction: Should You Buy the Dip? appeared first on CoinGape.
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