- Notcoin fell by over 7% in the last 24 hours alone
Bullish pattern emerged on NOT’s chart, hinting at a price hike
As a seasoned crypto investor with several years of experience in the market, I have seen my fair share of ups and downs. Notcoin’s [NOT] recent price decline of over 7% in just 24 hours was certainly disheartening, especially given its initial buzz and hype. However, I am not one to be easily deterred by short-term market fluctuations.
Prior to its debut, Notcoin generated significant buzz in financial circles. Nevertheless, its launch failed to live up to expectations as its value on the markets took a nosedive shortly thereafter. However, it’s worth noting that a bullish trend has emerged on Notcoin’s price chart, indicating a potential shift in fortune for this newly launched token.
Notcoin’s possible comeback
Before its debut, Notcoin generated significant excitement. Yet, disappointingly, the token’s price failed to meet investors’ expectations following its launch. Nevertheless, Notcoin swiftly regained traction as its value soared by over 40% within a week.
Over the past day, the value of NOT, an altcoin, dropped significantly by more than 7%. Currently, its price is at $0.0203 and boasts a market capitalization exceeding $2 billion. This downturn also affected NOT’s social metrics negatively.
The social buzz around the altcoin decreased, indicating a drop in public interest. Moreover, the weighted opinion toward Notcoin stayed unfavorable, suggesting that pessimistic feelings continued to outweigh optimistic ones in its marketplace.
As an analyst, I’ve noticed a potential hiccup for NOT, an altcoin, but it might not be a significant issue in the grand scheme of things. Recently, Captain Faibik, a well-known crypto analyst, drew attention to a bullish trend emerging on NOT’s price chart through a tweet.
Over the past few days, I’ve observed the price action of this cryptocurrency token, and it has been exhibiting signs of consolidation within a bullish pattern. A potential breakout from this consolidation could lead to a significant price increase of up to 67%. Furthermore, if this bullish trend continues, the token may have the opportunity to retest its all-time high once again.
Is a trend reversal possible?
As a crypto investor closely monitoring the market, I noticed a bullish pattern suggesting a potential trend reversal for Notcoin. To confirm this, I examined its 12-hour chart to see if it could break above the pattern in the near future. Based on my analysis, the MACD technical indicator displayed a clear bearish crossover, signaling a prolonged price decline.
As a researcher examining market trends, I’ve noticed an intriguing development: The Relative Strength Index (RSI) has shown a recent increase, while the Chaikin Money Flow (CMF) has displayed a comparable upward trend. This suggests that NOT may soon surpass its bullish pattern.
During this period, Toncoin (TON), the blockchain where NOT is created, experienced a significant surge in buying interest. Over the last week, TON’s price escalated by more than 17%. At present, the token was priced at around $7.40 and held a market capitalization above $417.9 billion, placing it as the ninth largest cryptocurrency by market size.
Read Notcoin’s [NOT] Price Prediction 2024-25
It’s worth mentioning that the amount of TON coins being traded on exchanges decreased significantly during the last week following a notable increase on June 3rd. This reduction in trading activity could potentially lead to issues due to diminished demand.
Read More
- Top gainers and losers
- DOP PREDICTION. DOP cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- STOG PREDICTION. STOG cryptocurrency
- KAI PREDICTION. KAI cryptocurrency
- MOCHI PREDICTION. MOCHI cryptocurrency
- SILLY PREDICTION. SILLY cryptocurrency
- AVAX PREDICTION. AVAX cryptocurrency
- BITCI PREDICTION. BITCI cryptocurrency
2024-06-09 03:03