Current investment analysis of NOT: Should we seize the opportunity to buy?
As an emerging cryptocurrency, NOT made its debut on Binance on May 16 and quickly gained a place in the top 100 of the Coinpedia market. Its market value has been eye-catching, breaking the $927 million mark. Its ability to quickly attract investors' attention is comparable to the popularity of meme coins.
However, given that NOT has been on the market for a relatively short time, the data points on its chart are still limited. At present, the price trend presents an upward trend channel, but the volatility is relatively violent. Since its listing, the price of NOT has hit a high of $0.037, but then pulled back to the current level of $0.009, although the weekly increase is still as high as 68.5%.
It is worth noting that the price has not yet successfully broken through the key psychological price of $0.010, which may become a consideration for investors to further intervene. Meanwhile, support levels are between $0.004800 and $0.005100, and if the price hits this area, it may be a safer buying point for investors.
From a technical analysis perspective, the "On Balance Volume (OBV)" indicator on the 1-hour chart suggests that there is some selling pressure at present. This indicator is often used to judge the comparison of buying and selling forces in the market.
As for whether NOT can rise to $1, it seems that this is still a challenging goal at present. However, considering that NOT is a reward asset for players of the Telegram Tap to earn game, its post-correction recovery speed in the short term may be quite rapid. It is expected that NOT may rebound to a level close to $0.2. But to achieve further increases, more social attention and active participation of Telegram game players are needed.
For investors, the price dynamics of NOT should be closely monitored, especially the changes in support and resistance levels, in order to make more informed investment decisions.
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