Altcoin
Is Notcoin ready for a bullish reversal? Key indicators signal shift
Despite a bullish pattern on NOT’s chart, a few technical indicators revealed a bearish edge.
- Notcoin’s price dropped 3.02% in the past 24 hours, trading at $0.005802.
- An analyst highlighted a falling wedge pattern for a potential rally.
Notcoin [NOT] price experienced a 3.02% decline over the past 24 hours, with the token trading at $0.005802. The market capitalization rose to $594.42 million, a positive shift from the previous day.
Despite the price drop, the market showed resilience, though the trading volume decreased by 9.08% to $86.19 million.
This trading activity suggested moderate market interest, with a volume-to-market cap ratio of 14.49%. The fully diluted valuation (FDV) of NOT remained at $594.38 million, indicating confidence in the coin’s long-term potential.
With a total supply of 102.46 billion tokens, NOT was positioned for potential moves, though with careful market monitoring.
Notcoin primed for potential breakout amid low volatility
Notcoin’s price showed a consolidating trend, trading around $0.005807 at press time, which may be primed for a breakout. Analysts noted that the Bollinger Bands were narrowing, with the upper and lower bands set at $0.0071 and $0.0054, respectively.
This contraction often indicates low volatility, which could precede a significant price shift, suggesting a potential breakout.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator reflected bearish sentiment. The MACD line was below the signal line, while the negative histogram indicated ongoing downward momentum.
The MACD line must cross above the signal line for a bullish reversal, with a positive histogram shift toward the $0.0071 resistance level.
Source: TradingVieew
The Chaikin Money Flow (CMF) stood at -0.06, indicating mild selling pressure within the market. With a CMF reading below zero, sellers appear to hold more significant influence than buyers.
If CMF rises above zero, this would suggest increased buying momentum, which could support a move toward the resistance level.
Selling pressure high as holders lose profits
The global “In/Out of the Money” chart revealed that most NOT holders
were “Out of the Money.” Most addresses held NOT at higher price ranges, primarily between $0.005920 and $0.017413, suggesting that many holders face unrealized losses.Only a small portion of addresses were “in the money,” primarily those who purchased between $0.002845 and $0.005382, indicating limited profitability at current levels.
Source: IntoTheBlock
The long/short ratio chart revealed fluctuating buying and selling interest, with recent spikes in selling volumes above 50%. The ratio showed that sellers occasionally outnumber buyers, leading to alternating control within the market, suggesting a balanced sentiment, with sellers occasionally dominating but lacking sustained momentum.
Falling wedge pattern signals rally for Bitcoin
Crypto analyst Ali Martinez has highlighted a bullish falling wedge pattern on NOT’s chart. This pattern might lead to a breakout with a target around $0.012, though confirmation is pending.
Traders and investors should monitor technical indicators closely, as increased buying pressure could support a significant price rally.
Source: X
Read Notcoin’s [NOT] Price Prediction 2024–2025
If the buying pressure intensifies and technical indicators turn bullish, NOT could test its upper resistance levels. However, if selling pressure prevails, the token may revisit its lower support at $0.0054.
