- 1 Notcoin price slumped over 9.33% intraday and was trading close to $0.018 at the time of writing.
- 2 Meme coin GORILLA suffered rejection from the 50-day EMA and slumped over 12% in the last 24 hours.
The broader market seems to be suffering these days, which has put a lot of pressure on the altcoins, especially with the coins having low market capitalization. The last 24 hours saw a 9.33% drop in the Notcoin and over 12% price drop in the GORILLA.
While these emerging cryptocurrencies have the potential to outperform several top cryptocurrencies, the sentiments are bullish. Conversely, they are likely to suffer the most if the sentiments turn bearish.
Let’s analyze Notcoin and GORILLA to see whether they will continue to suffer more or recover in upcoming sessions.
Notcoin Heads for a Profit Booking!
Notcoin emerged as a telegram game, captivating users with innovative tap-to-earn mining features. It served as an engaging gateway into the world of WEBE3. The NOT token lies at the heart of this community-driven platform, rewarding users to explore and discover new web3 products.
It also incentivizes participation in games, allowing users to accumulate more tokens. Moreover, it fosters a collaborative environment where contributions that enhance the ecosystem are recognized and rewarded. Additionally, It provides a unique opportunity for web3 developers to introduce their offerings to an active community through targeted campaigns.
The daily chart witnessed the formation of a lower high pattern, which has not been validated as the price hovers above the neckline of the $0.0158 level. Now, if the bears are able to drag the price below the $0.0158 level, it may indicate a short-term trend reversal, and the price may extend downwards.
Meanwhile, the price currently hovers in bullish territory until it hovers above the $0.0158 level. The key 20-day EMA at $0.0165 may also act as dynamic support and prevent further downside moves.
Gorilla Looks to Retest the Multi-Month Support!
GORILLA is a dynamic meme token set to transform the crypto world by merging its infectious popularity with real-world functionality. It offers an investment prospect that goes beyond the norm of meme tokens. It distinguishes itself with an IDO Launchpad, which benefits initial investors significantly, and a DEX swap that includes sophisticated stop/loss features.
When writing, the Gorilla was exchanging hands close to $0.004, recording a swift intraday drop of nearly 12%. With a live market capitalization of $3.46 Million, it ranks 1494th among all the cryptocurrencies.
From a technical perspective, the Gorilla price recently suffered rejection from the key 20 and 50-day exponential moving averages and reversed its course downwards. The price was currently headed to retest the multi-month support value of $0.003.
Moreover, the RSI and the 14-day SMA lines had withdrawn from the mean line, indicating a weakness over the charts. Also, a bearish crossover of both the lines was observed, suggesting a possible continuation of the trend.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
