**Notcoin ($NOT) Price Prediction – Analysis by Coindoo**
Notcoin ($NOT) has recently garnered significant attention in the crypto world. Built on the TON blockchain, this unique cryptocurrency uses games to educate people about Web3. However, with unconventional elements such as a blank whitepaper and only a popular Telegram game launch so far, there are mixed opinions on whether NOT represents a groundbreaking project or just a fleeting trend.
**Current Market Sentiment (as of May 17, 2024)**
The price of Notcoin is presently showing a bearish trend on the five-minute timeframe, indicating ongoing selling pressure. Key technical indicators reflect this sentiment:
- **Relative Strength Index (RSI):** The RSI is low, signaling a lack of active buyer participation.
- **Moving Average Convergence Divergence (MACD):** The MACD remains negative, further emphasizing the bearish outlook.
Given these indicators, it is likely that Notcoin's price could dip to a low of $0.005676 before any potential recovery.
**Potential Bullish Reversal**
Despite the bearish signals, a closer examination reveals that Notcoin is consolidating within a falling wedge pattern, typically considered a bullish reversal signal. This pattern suggests that the price could surge once it breaks out. Traders interested in long positions should look for a breakout above the wedge's upper boundary. Confirmation of this breakout would be a price move above the psychological level of $0.007000, establishing it as a new support level.
**Price Target**
The potential target for a falling wedge breakout is calculated by adding the maximum distance between the upper and lower trend lines to the breakout point. Based on this method, there is a possibility of a 50% rally, aiming for the $0.010427 mark.
