HomeCrypto CoinsDropping 40%, Will Notcoin Recover or fall further?

Dropping 40%, Will Notcoin Recover or fall further?

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The trading volume of Notcoin Price Drops 40% cryptocurrency places it fifteenth among all cryptocurrencies. A week’s worth of trading volume has dropped by seventy percent. The chart’s structure reveals that the price of Notcoin has been in a solid bullish trend since the last week of May and has gained around 500% up until the second of June with the year 2024. Beginning at the $0.0250 mark, the bullish trend was disrupted by the beginning of the short-term profit booking process.

In the twenty-four hours before this writing, the price of Notcoin was $0.0161, representing a loss of 8.23%. According to the 24-hour trading volume, the market capitalization is $1.66 billion, and the trading volume is $714.88 million. The quantity is now in circulation, and the entire supply amounts to 102,701,033,769.

Notcoin Price to Rise 50% Soon?

Notcoin Price to Rise 50% Soon?

According to a source on X, the price of NOT has formed a falling wedge pattern and is currently at a significant breakout level. This information comes from the source. A few days following a breakthrough, the NOT might increase by fifty percent, as stated in one piece.

Volume Dropped 70%—Now What?

The graph reveals that the trading volume has plummeted by more than 70% weekly. This massive change in trading volume has decreased the price by 30% weekly. If the trading volume returns drastically, it may positively affect the price.

Technical Analysis of Notcoin Price Over Duration

Technical Analysis of Notcoin Price Over Duration

According to the chart’s structure, NOT has demonstrated a lack of strength over the past few days, falling to the exponential moving average for the 20 days. Buyers can become involved if the price drops to the 20-day exponential moving average (EMA) and recovers. There is a possibility that the price will reach its previous swing high if buyers are engaged at this time. Imagine that the volume of trading increases, and there is also an increase in the amount of activity on social media.

At this point, the price might reach a new all-time high. On the other hand, if the price cannot defend the 20-day exponential moving average (EMA) and continues it, then selling pressure may be anticipated. Investors can be persuaded to book profits if the price exceeds the 20-day exponential moving average.

Notcoin Price Has Formed a Falling Wedge Pattern

During four hours, the NOT created a falling wedge pattern, and the price was at the critical level for breaking out of the pattern. If the price breaks out and there is a rise in trading volume, then it is anticipated that purchasing momentum will occur. The price may reach a new all-time high if the buyers remain strong.

There is also the possibility that the price will be dragged to the $0.0110 support level if the falling wedge pattern is broken at some point. It is reasonable to anticipate that there will be significant selling pressure if the price begins trading below the $0.0110 mark.

Summary

Notcoin Price Drops of 40% have fallen sharply recently, but there are signs that they could soon recover. Maybe even by 50%, if a breakout happens and trading volume increases. According to the technical analysis, the 20-day exponential moving average could serve as support. But if they can’t hold above this level, further selling pressure could be on the horizon.

Technical Levels

The price of NOT is anticipated to acquire support at the levels of $0.0110 and $0.0080. There is also the possibility that it will encounter opposition from the $0.0200 and $0.0270 mark.

Also Read: NOT Crypto Rejecting Dynamic Level, What Next?

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Ali Raza
Ali Raza has been writing about blockchain and cryptocurrencies for over Three years and is now the editor-in-chief of Latestcoinsnews. After a meteoric rise in late 2016, Ali Raza's enthusiasm for Bitcoin and other cryptocurrencies skyrocketed. He can't sleep with one eye on the market because he's so fascinated by the technical and economic ramifications of cryptocurrency.

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