- NOT’s mid-week rally hit +100% gains when adjusted on the weekly charts.
Notcoin on-chain holders surpassed PEPE, SHIB, and BONK holders.
As a researcher with a background in cryptocurrency analysis, I’ve closely monitored the recent developments of NOT, the Telegram-based Web-3 gaming token. The mid-week rally that NOT experienced resulted in impressive gains, reaching over 100% when adjusted on the weekly charts. This trend was reminiscent of the explosive upswing seen with GameStop (GSTOP).
I’ve noticed an impressive surge in Notcoin’s price lately. Over the past 24 hours, it has risen by approximately 40%, and if we look at the weekly chart, gains reach over 100%. This recent explosive upward trend seems to be parallel with GameStop (GSTOP) on CoinMarketCap’s trending list as of 30th May.
In their latest analysis on Notcoin’s price, AMBCrypto noted a potential increase of approximately 38% for the Telegram-based gaming token. This prediction holds merit, yet Notcoin’s surge shows no signs of slowing down based on crucial technical chart signals.
Notcoin price prediction: Will bulls push further?
The RSI indicator, which measures buying and selling pressure, has signaled strong demand with a reading of 74, but the asset hasn’t experienced significant buying pressure yet.
As a financial analyst, I have observed an intriguing development in certain markets starting from the 28th of May. The Chaikin Money Flow (CMF) indicator, which provides insight into buying and selling pressure within a security, has significantly risen above its average level in these markets. This surge in capital inflows is evident in the data.
Together, the readings indicate a positive trend for NOT‘s price. Furthermore, the price surge above the 38.6% Fibonacci level ($0.0095) has reversed the market trend to bullish in the short term, implying that potential price increases may follow.
As a researcher analyzing market trends, I’ve noticed that if the stock manages to surpass its latest peak of $0.012 (which corresponds to the 0% Fibonacci level), it could potentially yield an additional 14% return within the upcoming hours or days.
Despite the indication from liquidity heatmaps of a potential brief dip back toward the near 20-day EMA, this trend cannot be disregarded.
The Coinglass data reveals that significant liquidity pockets existed around the prices of approximately $0.011 and $0.013 in the 24-hour chart.
Market manipulation by market makers often triggers a search for liquidity at various price points, with some investors looking for assets near the current price and others seeking opportunities farther away.
If that’s the case, NOT may dip down to around $0.011 after reaching $0.013, providing an opportunity for cautious buyers. The derivatives market indicating a bullish trend could encourage sidelined investors to jump in at this discounted price.
Read Notcoin [NOT] Price Prediction 2024-2025
The significant increase in Open Interest (OI) reinforces the robust optimistic outlook for NOT in the derivatives sector. This growth indicates a larger influx of funds into NOT’s market, implying that many traders anticipate continued price growth.
As an analyst, I’ve noticed an uptick in positive price momentum for the token following its achievement of a new record: over 1.6 million on-chain users. This milestone surpasses that of several popular memecoins such as Shiba Inu [SHIB], Pepe [PEPE], and Bonk [BONK]. Therefore, it’s plausible to anticipate further price growth for the token based on this trend.
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2024-05-30 21:11