NOT has undoubtedly been one of the hottest projects in the cryptocurrency market recently. However, after experiencing an impressive 580% surge in early June, its price quickly fell back by nearly half. Technical analysis shows that the rally may be weakening, and a bearish "head and shoulders" pattern has emerged, and the situation does not look good.
To make matters worse, the entire cryptocurrency market is currently in a downturn. In particular, the recent decline in Bitcoin is likely to further suppress the price trend of NOT.
Where will NOT go in the future? I think there are three possible scenarios:
Scenario 1: A Jedi Counterattack (less likely)
•NOT needs to go against the trend and break through the previous all-time high or even set a new high again.
•But the prerequisite is that market sentiment needs to improve significantly, and NOT itself must also show strong positive news and fundamental support.
•It is worth mentioning that the NOT project announced a $2.5 billion airdrop plan for the NOT community on June 25, which may be good for the NOT price. However, the specific impact remains to be seen.
Scenario 2: Continued decline
•NOT may continue its current decline and continue to fall.
•The cryptocurrency market is highly volatile, and the price of any coin can drop to zero (we’ve seen this happen too many times over the years).
Situation 3: Bottom rebound (what I hope to see)
•NOT may make a lower move near the current price (around 0.0125 USDT) or start a rebound after a short consolidation.
• Sideways consolidation usually means an accumulation of chips, which may be followed by a new wave of rising prices.
No matter which of the above situations occurs in the market, my first advice is to wait patiently for clear signals to appear in the market before trading.
You can choose the appropriate entry based on your risk tolerance, for example:
High risk = buy on dips; but prices may continue to fall...
Medium risk = Buy after the price consolidates at $0.0125.
Low risk = Buy when price starts to break previous high ($0.0218) or all-time high ($0.029) with large volume.
The cryptocurrency market is full of variables, and so is NOT. In order to increase the success rate of transactions, we must interpret the possible market situations in advance and trade according to our own risk level & trading system.
Only by doing your homework well can you maintain long-term winning and achieve financial freedom in the cryptocurrency circle🚀💰💵.
What do you think about the future of NOT? Feel free to leave your thoughts in the comments!
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