Notcoin (NOT) has recently emerged as one of the most talked-about tokens on Telegram, generating substantial market enthusiasm. The game’s rewards system has pleased numerous investors, yielding significant financial returns. Despite the positive price trends witnessed over the last week, analysts note that it has become increasingly challenging for bulls to continue driving the price upward.
Will NOT Price Drop?
Since July 8, Notcoin has been trading within a specific range, with its mid-range price climbing from $0.0145 to $0.0175, and facing resistance at $0.16. As of now, the Relative Strength Index (RSI) for NOT stands at 53, close to the neutral mark of 50. Although the momentum appears positive, market commentators suggest a bearish trend might commence if the price dips below $0.156.
Despite breaking through the trend line resistance on July 6, On-Balance Volume (OBV) has continued its downward trajectory throughout July. This indicates diminished buying pressure from bullish investors and hints at potential short-term declines.
Future of Notcoin (NOT)
While the funding rate for NOT remains positive, there are no clear signs of bearish sentiment. The liquidation map indicated a long position liquidation following a price rejection three days ago. After overcoming the $0.014 resistance, investors holding long positions have been closely observing the decline in Open Interest.
Key Insights for Investors
– Keep an eye on the RSI value; a drop below 50 could signal a negative trend.
– Monitor OBV for any shifts, as prolonged declines could indicate reduced buying interest.
– Watch for any changes in the liquidation map, especially after significant price rejections.
– Pay attention to trading volume spikes, which may indicate market movement.
– Be aware of CVD signals, as they could suggest impending price drops.
Spot Cumulative Volume Delta (CVD) has provided the most significant bearish signal, pointing to a potential decline to $0.014 despite current price increases. As of the latest data, NOT’s price has climbed by over 5% in the past 24 hours to $0.0163, with trading volume soaring by 100% to $432 million.