Breakout Pattern Emerges on NOTs Chart, Will It Surge or Plummet?

The #Notcoin price pumped over 2% in the last 24 hours to trade at $0.01595 at press time.

This recent increase has nudged the crypto’s weekly performance deeper into the green zone. As a result, the $NOT price is up more than 33% over the past 7 days.

A symmetrical triangle has emerged on the 4-hour chart for the Notcoin price. This specific pattern suggests that #NOT might undergo a strong move, but gives no clue as to which direction the move might be in.

If the Notcoin price surges, it could attempt to flip the resistance level at $0.01730 into support. Closing a 4-hour candle above this level might then give the crypto the foundation needed to rise to the next technical barrier at $0.01875.

On the other hand, a breakdown in the NOT price could see the altcoin drop to the immediate support level at $0.01460. Continued sell pressure should the crypto fall to this point might then lead to it plunging to $0.01360 in the following 24 hours. An extremely bearish scenario could see the Notcoin price plummet to as low as $0.01260.

Technical indicators on NOT’s 4-hour chart suggest the crypto might fall in the next 24 hours. More specifically, the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI) and short-term Exponential Moving Averages (EMAs) are all showing bearish signs.

The MACD line is currently positioned below the MACD Signal line. Traders usually see this orientation as an indication that a crypto is in a negative short-term phase. Meanwhile, the RSI is also positioned below its Simple Moving Average (SMA) line on the 4-hour chart to signal that sellers currently have the upper hand against buyers.

Momentum seems to be shifting in favor of sellers as well, with the 9 EMA collapsing in on the 20 EMA. An intersection between these two lines in the coming 24 hours will result in a major bearish flag being triggered. NOT could subsequently drop. #altcoins #TrendingInvestments #write2earn🌐💹