Like other altcoins in the market, Notcoin (NOT) has seen a price increase in the last 24 hours. Within the period mentioned, NOT has jumped by 8% while its volume has surged 85%, indicating growing interest in the Telegram coin.
With market volatility at a high level, Notcoin faces a crucial momentum that could determine its short-term movement. If NOT fails to break through this key resistance, it risks facing a significant correction that may send its price tumbling.
Notcoin Encounters Challenges
Notcoin is currently trading at $0.0078, still 73% below its all-time high. Despite recent gains in price and volume, which suggest a potential rally, the 4-hour analysis indicates the token could face challenges as it targets $0.011.
The 4-hour chart shows that Notcoin is working its way toward $0.0080, but this level has previously acted as resistance, where the coin faced rejection. If Notcoin fails to break above this price level, it could see a 10% correction. In this case, its value might drop to $0.0072.
Read more: 5 Top Notcoin Wallets in 2024
An evaluation of Notcoin on the daily timeframe shows its Relative Strength Index (RSI) remains below the neutral 50.00 mark. The RSI is a momentum indicator that tracks the speed and size of price changes.
If the RSI moves above the midpoint, it signals bullish momentum and a potential price increase. Conversely, a decline in the RSI suggests weakening momentum.
For Notcoin, the RSI is rising but still below the signal line, indicating the uptrend is uncertain. The token’s upward movement will likely remain shaky unless bulls apply more pressure to push the price higher.
NOT Price Prediction: Rally Could Stop
Furthermore, the Fibonacci retracement indicator provides insights into NOT’s next movement. From a short-term perspective, bulls might try to break above $0.0085. However, around the same region, Notcoin began a decline that pulled it down to $0.0072 on September 6.
As such, that region is a supply zone that requires notable buying pressure to surpass. Currently, it does not appear that Notcoin has the notable capital flow to keep the upswing going.
Read more: Notcoin (NOT) Price Prediction 2024/2025/2030
In a highly bearish scenario, Notcoin’s price could drop to $0.0072 and possibly as low as $0.0069. On the other hand, if the token manages to break above the $0.0080 and $0.0085 resistance levels, it could potentially surge to $0.011.
Disclaimer
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