The post Notcoin Price Analysis: Is NOT Price Adding Up A Zero? Here’s What You Need to Know appeared first on Coinpedia Fintech News
The market dynamics are changing every day. Some of the tokens are receiving huge traders’ attention and are displaying huge volatility, while others maintain a silent & stagnant trend. Many within the top 10 like BinanceCoin (BNB), Cardano (ADA), Toncoin (TON), etc have been trading without much noise but within a narrow range. Besides, altcoins like Notcoin are losing grip over the rally and are feared to hit back to the levels seen in the first few days of its inception.
The NOT price rally was extremely limited for some time as the token soon fell into a huge bearish trap. After losing 50% of its value, NOT was believed to trigger a strong rebound. However, the token broke down the decisive phase, which has now certified the start of a fresh descending trend. However, the bulls are expected to utilise the opportunity soon, which may kick-start a fresh ascending trend after a strong rebound.
The above chart displays the price losing its grip over the rally as it breaks below the decisive symmetrical triangle as the market dynamics turn bearish. Previously, when the NOT price dropped below the support, the bulls quickly jumped in and triggered a rebound. However, as the current trade setup suggests, there is no room for the bulls to thrive as their weakness has infused acute strength among the bears. The current pullback is expected to cause more than a 20% plunge as the technicals go bearish.
The stochastic RSI, which is used to determine the strength and weakness of RSI, is heading towards the upper threshold. This indicates that the RSI may witness a rejection as the StochRSI is preparing for a bearish crossover, strengthening the prevailing bearish trend. Therefore, the Notcoin (NOT) price is expected to maintain an uninterrupted descending trend and hit support below $0.009, which may attract traders’ attention.
The bulls may exhibit their strength then, but until the platform experiences a huge influx of buying volume, the price may remain under the bearish influence.