I continue to buy the NOT token using the strategy, which allowed me to significantly reduce my average purchase price below $0.009361. Today, Notcoin is trading at $0.007232, with a 24-hour trading volume of $121,225,734. Over the past 24 hours, the token has lost 3.85% of its value, which, of course, is not the most encouraging picture. However, my mood remains optimistic.
According to CoinMarketCap, NOT is ranked 83rd with a market cap of $741,109,859. There are 102,474,422,539 tokens in circulation, and based on network analytics, I have noticed that whales have started to accumulate this asset. It is possible that even my own wallet has started to fall into the "whale" category, which is quite funny - I follow myself and do not know it!
I also think it is positive that the number of large holders is increasing, and perhaps it was me who bought all the tokens.$NOT but I don't know that yet 😅
The presented chart of the NOT token shows key elements of technical analysis that help me assess the current state of the asset.
Moving averages:
The NOT price is below the 20-day and 50-day moving averages, which is a bearish signal. This indicates short-term selling pressure, and until the price returns above these lines, an increase is unlikely.
Bollinger bands are narrowing, indicating a decrease in volatility. The price is currently trading at the bottom of the Bollinger bands, which may indicate a possible upward rebound if a local minimum is reached.
The MFI indicator is at around 44.86, which shows a neutral position, but closer to the oversold zone. This may indicate that sellers are running out of steam, and buyers may soon begin to show interest.
Support and resistance levels:
The nearest support level is around $0.006477, which coincides with the lower boundary of the Bollinger Band. If the price breaks through this level, further decline may accelerate.
The resistance level is around $0.007975–$0.009473. The price needs to break these levels to resume the upward trend.
Trading volumes:
Trading volume has fallen significantly since the price rise in late September. The drop in volumes with falling prices indicates weak selling pressure, which could also be a signal of a possible reversal.
Result:
I believe that there are signs of short-term weakness in the NOT token, but the situation is close to the oversold zone, which may be the starting point for a rebound. It is important to monitor the price behavior at support and resistance levels and pay attention to the growth of volumes, which will confirm a reversal or continuation of the trend.
Sure, it's sad to see even Bitcoin turn red, but I'm confident in the long-term prospects of the #NOT🔥🔥🔥 token
Follow me@Sasha why NOT soon the competition will start to give away 10,000 NOT
