The post This Altcoin is Breaking Out From the Bearish Consolidation; May Initiate a 50% Upswing if This Happens appeared first on Coinpedia Fintech News
The crypto markets are gearing up as the Bitcoin price is approaching back to the levels close to the ATH, intending to form a new one in a short while. In the meantime, this popular altcoin, Notcoin, which refrained from bullish price action, has displayed massive strength. The NOT price has been displaying immense strength as it rises above the interim support, flashing huge bullish signals.
The Notcoin has entered the top 100 as the price spiked by over 15% in the past 24 hours while the trading volume increased by more than 80%. However, the latest rebound from the support of the bullish pattern has placed the token into a significant risk-to-reward set-up. Now that the price is at the foothill of an explosion, it would be interesting to watch whether the NOT price will squash a zero from its value or not.
After multiple failed attempts, the NOT price is again trying to breach through the upper resistance of the descending parallel channel. The price is trying to breach the levels, which is expected to occur any time from now as the selling pressure has faded. Besides, the Bollinger bands have begun to squeeze, suggesting a massive price action could be fast approaching. With this, a rise to the upper bands of Bollinger at $0.008113 appears to be imminent, but a sustained upswing, holding these levels as a support, may pave the way for a rise above $0.01.
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The markets have entered a bullish range, and hence the popular tokens are expected to trigger a fine ascending trend. Therefore, the Notcoin price is expected to rise high and reach $0.01 if the token manages to close the weekly trade close to or above $0.08. Although the bears may intensify their action, the flipped market dynamics may keep up the upswing hereafter.