âĄď¸ Market analysis:
Notcoin (NOT) is facing significant resistance at $0.01230, signaling potential trouble ahead. Market structure is weakening, with strong indicators pointing to a potential fall to the $0.01060 area.
âĄď¸ Key levels to watch:
â Resistance: $0.01230 đ§
â Support: $0.01159 đť
â Goal: $0.01060 đŻ
âĄď¸ Price Action:
Notcoin has tested the $0.01230 resistance multiple times, but to no avail. The bulls are struggling, and the $0.01159 support is under serious pressure. A break below this level could lead to a sharp decline.
âĄď¸Technical indicators:
âBearish Luftwing Candle: The 4-hour chart shows a bearish Luftwing pattern, a strong signal that the downtrend may continue. đ
âSharp increase in volume: The increase in selling volume at the resistance level of $0.01230 confirms that the bears are in control. đ
âRSI Downtrend: RSI is falling from overbought levels, indicating increasing bearish momentum. đ
âMarket sentiment:
The sentiment is becoming increasingly bearish. With the failure to break above $0.01230 and bearish patterns forming, sellers are gaining strength. Traders should prepare for a possible further decline to $0.01060.
âĄď¸Scenarios for observation:
1ď¸âŁContinuation of the bearish trend: a break below $0.01159 could accelerate the decline to $0.01060. đ¨
2ď¸âŁTemporary Bounce: If $0.01159 holds, there could be a short-term bounce, but expect strong resistance at $0.01230. đ
đ¤POV:Notcoin is on the brink! Bearish Luftwing pattern on the 4-hour chart suggests a possible drop to $0.01060. Stay vigilant and keep a close eye on key support and resistance levels as volatility is expected to increase. đĽ
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