- 1 Notcoin (NOT) price experienced a profit booking last week.
- 2 The crypto has rebounded from the 20-day EMA mark and is on a pull-back.
Notcoin (NOT), a new gaming token, entered the cryptocurrency market with strong demand and witnessed intense speculation over the past few trading sessions.
However, buyers failed to cross its initial day high mark of $0.03600. This week, buyers attained momentum, flipped the gains over 40%, and are eyeing a significant surge ahead.
Since its emergence, NOT has been in a consistent uptrend and has not breached its day low of $0.000630. Notably, it has surged over 2700% till now and is still rising.
The trend is intact, and buyers have to strike above the immediate hurdle of $0.03000 to accelerate the bullish momentum. If it happens, Notcoin should split its ATH soon.
At press time, the Notcoin price traded was $0.0201 post an intraday surge of 2.43%, reflecting buying momentum on the charts. It has a monthly return ratio of 164.30 and 2480.20% yearly, reflecting an uptrend.
The pair of NOT/BTC is at 0.000000303 BTC, and the market cap is $2.06 Billion. Analysts are bullish and suggest that the NOT may break out and reach its ATH mark soon.
Notcoin Forms a Symmetrical Triangle: What’s Next?
Per the TradingView chart, the Notcoin crypto has formed a symmetrical triangle pattern, and buyers are eyeing to breach the downward trendline hurdle of $0.02300. If this happens, the crypto could surge further by 3-5%.
Nonetheless, the demand for Notcoin was consistent, and buyers have persisted in accumulation. Despite market volatility and a selloff, NOT is bullish.
Source: TradingView
Its trading volume significantly increased daily and witnessed the demand among investors. The trading volume spiked by over 26% in the last session to $1.08 Billion. Notably, it is ranked at 56 per the market cap and has a total supply value of 102.71 billion.
In a tweet, @Robert Hook mentioned, “$NOT is at $0.02 now, but big things are coming!
Hold tight, we’re aiming high!
Let’s send our bags to the moon!”
$NOT is at $0.02 now, but big things are coming!
— Robert hook (@Robert_i0) June 15, 2024
Hold tight, we're aiming high!
Let's send our bags to the moon! #NOT #cryptocoin #HODLtoken pic.twitter.com/ShKgkFQa8g
Source: X
Notcoin Reveals Steady Volatility and Flat-Weighted Sentiment
This week, the gaming token (NOT) witnessed a pullback, and the price volatility curve revealed a decline, indicating that the selloff is easing now.
Source: Santiment
Interestingly, the weighted sentiment data looks flat and remained close to the midline region around 0.134.
Futures OI Data Reveal Short Covering Activity
The futures OI data reveals sellers have begun covering their positions, which might trigger a price pullback shortly.
Source: Coinglass
The open interest dropped over 8.26% to $230.96 Million in the last 24 hours and revealed the drop in the short positions this week.
Its Relative Strength curve (RSI) stays in the overbought zone, revealing a positive divergence on the charts. Similarly, the MACD indicator signifies a bullish crossover and replicated green bars on the histogram.
The immediate support levels for NOT are $0.01950 and $0.01780, whereas the key upside hurdle is around $0.02200, followed by $0.02400.
Conclusion
The Notcoin token price traded above the key moving averages and has decisively held gains in the bullish region. For weeks, the higher high swings were valid, and the bullish trend is intact on the charts.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
