- NOT’s price has grown by over 80% in the past seven days.
- Technical indicators suggest that it is ready to climb further.
As a researcher with experience in the cryptocurrency market, I find NOT’s recent price action quite intriguing. In just seven days, NOT has experienced a significant surge of over 80%, as indicated by its current value of $0.02 and its 84% increase according to CoinMarketCap data.
As a researcher studying the cryptocurrency market, I can tell you that NOT, the native token powering Notcoin, the engaging play-to-earn clicker game on Telegram, has continued to demonstrate impressive growth over the past week.
As of now, the altcoin is being traded for around $0.02 based on current market figures. There’s been a significant surge in its value over the past week, with CoinMarketCap reporting an impressive 84% increase.
Based on the signals from important technical indicators, the altcoin’s price could surge toward a fresh record high in the near future due to heightened demand.
NOT bulls are not ready to relinquish dominance
Despite recent profit-taking, NOT’s momentum indicators continue to hover well above their 50-markers.
The RSI indicator for the token stood at 76.73, and its Money Flow Index reading was 77 as of the latest report.
The indicators signaled that abstaining from purchases continued to have a stronger impact than triggering sales.
It’s important to mention that when NOT’s Relative Strength Index (RSI) reached its value, it signaled that the token had been overbought, indicating that a price correction was likely upcoming. Overbought assets experience buyer fatigue, resulting in a price decrease.
Despite a potential small adjustment in NOT’s pricing, the bulls continue to hold the upper hand based on the Elder-Ray Index readings. The index stood at a value of 0.012 as of now.
this metric reflects the balance of buying and selling pressure in the market, with a positive value indicating that bullish forces are more influential.
As a researcher, I’ve analyzed the latest data on an altcoin’s directional indices and found that its positive index, which represents the green trend, currently stands at 45.96. On the other hand, the negative index, symbolizing the red downtrend, amounts to 6.2. These figures indicate that the altcoin is experiencing a more pronounced uptrend compared to the downward momentum, despite some traders initiating sell-offs.
Furthermore, the Chaikin Money Flow (CMF) of NOT at 0.20 indicated a substantial influx of buying power in the market.
In simpler terms, a Composite Market Factor (CMF) that is positive indicates a robust market condition. This implies an influx of capital due to heightened demand for an asset, which serves as a bullish indicator.
Realistic or not, here’s NOT’s market cap in SOL terms
In the future market for NOT on Coingecko, open interest has surpassed previous records, currently standing at approximately $284 million.
As a crypto investor, I closely monitor the open interest of an asset’s futures market. The open interest represents the number of unfilled contracts between traders. When this figure increases, it signifies that more investors are entering new positions in the market, either by going long or short. This trend can potentially indicate increased market activity and liquidity.
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2024-06-06 22:15