Notcoin analyst predicts a 12.5% upswing: Key insights you shouldn’t miss!

NOT

As a seasoned crypto investor with a knack for spotting trends and interpreting market signals, I find the recent surge of NOTcoin (NOT) quite intriguing. Having navigated through several crypto winters and bull runs, I’ve learned to read between the lines and trust the data more than the hype.

Over the last fortnight, Notcoin (NOT) has experienced significant growth, moving beyond a descending triangle on a daily chart. Currently, it’s being traded at $0.008772, which represents a 5.22% increase compared to its value a month ago.

Equally, this bullish trend has extended on weekly charts with the coin hiking by 14.45%.

Over the past nine days, I’ve observed an uninterrupted upswing in the performance of this altcoin, having touched a low of $0.0069 on September 18th. However, in the last 24 hours, there’s been a slight dip of 2.09%.

Even though there’s a drop in day-to-day trends, the total growth accumulated during the last week surpasses the setbacks.

What market sentiment says

Analysts are buzzing and placing significant bets on the altcoin’s future following its recent surge. Notably, renowned cryptocurrency expert Ali Martinez anticipates a potential 12.50% increase in the near future.

In his analysis, Martinez cited Notcoin’s breakout from a falling wedge pattern on hourly charts.

As an analyst, I anticipate that a breakout beyond the current level could potentially trigger a 12.50% rise in NOT‘s price. This would likely push the price up to approximately $0.009868.

In this situation, if the trend deviates from its usual course, it might indicate that the selling force is decreasing while buying interest is rising. This could be an indicator that the market’s direction is changing from negative (bearish) to positive (bullish), potentially leading to a price increase.

What NOT charts suggest

Although Martinez’s analysis offers a future perspective on Notcoin, it’s crucial to examine other factors that might provide additional insights as well.

Initially, the accumulated funding rate for Notcoin, grouped by assets, has stayed positive in the last seven days. This positive funding rate, when viewed across assets, indicates that Notcoin is trending upwards more frequently than it’s going downwards.

Thus, this suggests that buyers consistently control the market, demonstrating investors’ faith in the asset’s potential future worth.

Furthermore, the market has shown a greater preference for holding long positions over short ones. This trend is underscored by the persistent positive rate of funding fees accumulated across exchanges.

Investors appear optimistic about potential increases in value and expect more profits, which leads them to pay higher fees for the privilege of holding such positions.

Ultimately, the market has become more consistent due to whales holding onto their tokens for a longer period compared to others. Consequently, these significant investors control about two-thirds (66.69%) of the token supply, suggesting they have substantial power over individual traders and investors.

Read Notcoin’s [NOT] Price Prediction 2024–2025

In simpler terms, when large investors (often referred to as ‘whales’) dominate a market, it becomes less susceptible to impulsive selling because these experienced investors typically do not make decisions based on news or emotions. Instead, their high demand for a particular altcoin indicates that they are optimistic about its future performance and expect additional growth.

Based on the present market trends and optimistic investor sentiment, it’s likely that Notcoin (NOT) may continue to rise. In the near future, we might see Notcoin reaching approximately $0.01229.

2024-10-02 12:08

What market sentiment says

What NOT charts suggest

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