- NOT has surged by 14.05% over the past day.
- An analyst eyed a new ATH of $0.12 after breaching the consolidation range.
As a seasoned analyst with over two decades of market experience under my belt, I must say that the recent surge in Notcoin [NOT] is nothing short of captivating. The altcoin’s 14.05% daily jump and its consistent upward momentum over the past month have certainly piqued my interest.
Over the last month, I’ve noticed consistent growth in the value of my Notcoin investments. This digital currency has shown robust positive trajectory, exhibiting significant upward trend during this timeframe.
Currently, Notcoin is being exchanged for approximately 0.008588 dollars per unit. This represents a significant increase of 14.05% in its daily value. Over the same period, the trading volume has significantly grown by an impressive 130.68%, reaching nearly $403.29 million.
Equally, the altcoin has surged by 14.79% on weekly charts and 13.03% on monthly charts.
In spite of significant increases in value from the pumps, the altcoin still lags behind its all-time high by about 70.7%. The ongoing market environment, characterized by substantial growth, has sparked much discussion among analysts regarding the potential path for the altcoin known as NOT.
Among them, there’s Ali Martinez, who anticipates that the next price point will be around $0.12. He bases this prediction on a breakout from a declining trend channel, or what is commonly known as a “falling wedge.
NOT’s market sentiment
Over the last fortnight, I’ve been observing and analyzing market trends, and I’ve come to the conclusion that, following its breakout from a falling wedge, NOT has been steadily consolidating.
In his opinion, this consolidation period has given the altcoin a robust foundation to continue its upward movement on price graphs.
With heightened purchasing actions and capital influxes, the necessary liquidity for a bullish trend seems to be accumulated. Consequently, according to this assumption, it’s expected that NOT might reach $0.12.
What NOT charts suggest
Although Martinez’s analysis appears optimistic, it’s crucial to cross-reference other factors and see what additional insights they provide.
Initially, AMBCrypto’s examination indicates that the market for Notcoin is being driven by its buyers, who are currently exerting significant positive pressure, causing the altcoin to display robust upward trends.
In simpler terms, when the Moving Average Convergence Divergence (MACD) line sits nicely above its signal line, and the histogram shows a positive value, it suggests that the asset is experiencing a strong uptrend because of increasing buying pressure. This indicates that the ongoing trend might persist.
In the past day, RVGI displayed additional evidence of its positive trend, as it completed a “buy” signal or bullish crossover.
As we delve deeper, the Open Interest for Notcoin has spiked by 20%, reaching a 3-month peak at $145.03. This increase in Open Interest suggests that investors are optimistic and are actively creating new investment opportunities.
A rise in funds inflow through new positions usually precedes a price increase.
Over the last week, the accumulated Funding Rate across exchanges has consistently been positive. This suggests that the majority of newly opened positions are likely to be long ones.
Most investors were betting on prices to rise and were even paying a fee to hold their positions.
Read Notcoin’s [NOT] Price Prediction 2024–2025
At the moment, Notcoin is experiencing an upward trend, fueled by optimistic opinions. As this bullish trend continues, Notcoin’s price may climb higher on graphs.
Given these current circumstances, it’s likely that the price won’t drop to $0.00992 in the near future. Instead, a surge from the current position could boost the altcoin towards $0.012.
Read More
- GBP EUR PREDICTION
- SEI PREDICTION. SEI cryptocurrency
- HBAR PREDICTION. HBAR cryptocurrency
- CNY RUB PREDICTION
- HOOK PREDICTION. HOOK cryptocurrency
- CTXC PREDICTION. CTXC cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- BCH PREDICTION. BCH cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
2024-11-25 05:11