-
As of press time, Notcoin had surged over 9% in the last 24 hours.
NOT breaks out of one-month range as long percentage for top traders rise.
As a seasoned analyst with over two decades of experience in the crypto market, I’ve seen my fair share of ups and downs. However, the recent surge of Notcoin [NOT] is a breath of fresh air for the TON blockchain community. Despite the challenges that TON has faced, NOT breaking out of its one-month range is a promising sign, especially considering it ranks third in 24-hour gains among the top 100 cryptocurrencies on CoinMarketCap.
The digital currency known as Notcoin, which was recently introduced on the TON blockchain, has rekindled hope within the community after a stretch of difficulties that ensued due to uncertainties related to Pavel Durov.
Despite TON’s challenges, Notcoin is now showing signs of resurgence. As of press time, Notcoin ranks third behind SEI and SUI in 24-hour gains, with over 9% growth among the top 100 cryptocurrencies on CoinMarketCap.
The trading activity has significantly increased by 67%, fueling optimism that this upward trend might persist, possibly rejuvenating the TON blockchain, spearheaded by the growth of Notcoin.
Notcoin breaks out of falling wedge
As I delve into the analysis of the NOT/USDT pair, I can’t help but notice the evident signs of bullish energy. On the 4-hour chart, Notcoin has just burst free from a falling wedge pattern that it had been confined within for the entire month of August. This breakout suggests a potential shift in the market trend.
In simpler terms, this recent surge for Notcoin has catapulted it into the group of notable price increasers. At present, its price movement has burst through a triangular trend line, yet it’s facing challenges to maintain levels above the 200 exponential moving average (EMA).
Should the price continue to surpass this critical point, it indicates a more robust possibility for increased profits. According to experts, Notcoin might yield returns exceeding 25% before the week concludes, as the graph suggests an immediate necessity for the price to stay above the threshold level.
In other words, there was a significant 30% profit for short sellers following a breakout from a holding pattern earlier this month. Given this trend, another upward breakout seems highly probable.
As a crypto investor, I’m confident about the bullish outlook we’re seeing, and the MACD indicator backs me up on this. The histogram suggests robust momentum in the market, while the MACD line crossing above the signal line signals a persistent uptrend, indicating that the upward trend is likely to continue.
If the NOT/USDT pair falls below its current support (breaker level) or the 200 Exponential Moving Average, it’s recommended that traders exercise caution before making any long trades.
What NOT’s divergence means?
As a researcher examining this scenario, I’ve noticed an intriguing pattern emerging between the high percentages of trades by top accounts and the bid-ask ratios. Interestingly, these two metrics appear to be moving in opposite directions, which often indicates a divergence – a situation where trends or behaviors are not aligned as expected.
Typically, these markers tend to move up or down in unison, but when they start to deviate, it creates uncertainty. Deviations are significant because they may suggest a change in direction or imply that the ongoing trend will persist.
Read Notcoin’s [NOT] Price Prediction 2024–2025
Notcoin’s social sentiment is on the rise
Finally, it’s worth noting that Notcoin has been gradually picking up favorable social buzz. The number of mentions, posts, and likes on various social media networks has increased significantly, a development that is particularly important for coins such as NOT since they heavily depend on robust community support to drive price growth.
As social engagement escalates, the likelihood of Notcoin’s upward trend strengthening becomes more substantial. The growing optimism, along with robust technical signals, indicates that it’s quite probable for Notcoin to sustain its price rise over the next few days.
Read More
- CTXC PREDICTION. CTXC cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
- GFI PREDICTION. GFI cryptocurrency
- RIF PREDICTION. RIF cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- I’m a Celebrity voting figures revealed after Danny Jones crowned winner
- OKB PREDICTION. OKB cryptocurrency
- WRX/USD
- TRU PREDICTION. TRU cryptocurrency
- ZIG PREDICTION. ZIG cryptocurrency
2024-09-26 07:03