Notcoin (NOT) experienced a significant price surge, trading around $0.012 during European business hours on Friday, marking a 2.5% increase in 24 hours and a remarkable 158% rise over the past week, according to CoinGecko data.
Market Cap Reaches New Heights
The market cap of Notcoin hit $1.2 billion for the first time, sparking optimism among investors and those who held onto their tokens after the Token Generation Event (TGE). Additionally, the 24-hour trading volume saw a 9.8% increase, indicating heightened market activity.
Technical Analysis: Strong Bullish Momentum
The price of Notcoin is trending well above the 50-day simple moving average (SMA), demonstrating strong bullish momentum. It extended previous gains by 51%, reaching a new daily high of $0.0132 before a slight cooldown.
Support and Resistance Levels
On the 4-hour chart, Notcoin has found support around the 0.5 Fibonacci retracement level at $0.011, which has been tested twice in the past 12 hours, making it a robust support level. Analysts predict that the NOT price will bounce off this level and target the 0.27% Fibonacci extension level, potentially adding 21% to its price and setting it around $0.0145. On the daily chart, the 0.27 extension level is around $0.0155, a 31% increase from the current price.
Key resistance points for NOT include $0.0132, $0.0145, and $0.0156. Conversely, critical support areas are around $0.011 and $0.0085.
Earning Missions Boost Investor Confidence
The launch of Notcoin’s Earning Missions has rejuvenated investor confidence, contributing to the recent price surge. The project has benefited from the enthusiastic support of its active community and a robust Telegram ecosystem. Furthermore, Notcoin’s direct listing on multiple tier-1 centralized exchanges has signaled strong financial backing and resilience, attracting big investors.
Entering the Top 100
Notcoin’s market cap now places it among the top 100 biggest cryptocurrencies. This ascent underscores the dynamic nature of the crypto industry, as Notcoin continues to attract investor interest and soar in value.
Looking Ahead: Potential for Further Gains
As Notcoin price continues its upward trajectory, similar projects such as Tapswap (TAPS) are gearing up to enter the market, aiming to capture a share of the Tap-to-Earn niche.
Conclusion
Notcoin’s impressive rise showcases the ever-evolving landscape of the cryptocurrency industry. With strong support, increasing trading volume, and continued bullish momentum, Notcoin is poised for potential further gains, maintaining its appeal among investors and the broader crypto community.
