Although NOT prices have been under downward pressure recently, there are still many positive signals in the market that allow investors to remain optimistic about the future of NOT.
Social media boosts NOT popularity
The discussion about NOT on social media platforms such as Telegram has not diminished, and even paid clicks have been used to increase the attention of NOT. This community craze has boosted market sentiment to a certain extent.
NOT bullish confidence picks up
Holdings rebounded: About a week ago, NOT's holdings fell sharply, once falling to $70 million, causing market panic. However, the holdings quickly rebounded to $151 million, indicating that some investors who had been waiting on the sidelines had re-entered the market and bullish sentiment had recovered.
Funding rate remains positive: Another positive sign is that NOT's funding rate has been positive. In the futures market, a positive funding rate usually means that investors tend to hold long positions and are not likely to close their positions easily even if prices fall. This reflects that some investors are still optimistic about NOT's future development potential.
Lessons for Investors
Pay close attention to changes in positions: Positions are one of the important indicators to measure market sentiment, and investors should learn to interpret the meaning behind changes in positions.
Pay attention to the funding rate: The funding rate can help investors understand the game between the long and short sides in the futures market and assist in judging market sentiment.
Identify support and resistance levels: Understanding support and resistance levels can help investors make more rational trading decisions.
Short-term pullbacks may contain opportunities: Investors should learn to distinguish between short-term pullbacks and long-term trends. If there are no major changes in market fundamentals, price pullbacks may also bring new opportunities to buy on dips.
Currently, the price of NOT is above $0.014, which is a critical price level. If the price can effectively break through $0.014, it is expected to further attack the $0.017 resistance level. After conquering this resistance level, it may become a new support level, further consolidating the price of the coin. On the contrary, if the price fails to break through $0.014, it may fall back to $0.013 or even $0.012 to seek support.
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