Can NOT break out of its cocoon and leap to $1 in value?
In the turbulent waves of the cryptocurrency circle, NOT has attracted attention with its daily trading volume of about $785 million. However, just last Sunday, its price was fixed at $0.0188, and it seemed to have encountered a market cold wave, causing the price to fall by about 4.5% in the past 24 hours.
Despite the challenges, NOT's market valuation is still as high as $1.95 billion, ranking 55th in the cryptocurrency field. Behind this is the circulation of up to 102 billion NOT coins, showing its huge market size and potential.
NOT's key technical indicators, as well as changes in support and resistance levels:
It is worth mentioning that it has just completed a 50% Fibonacci retracement near $0.0170. This technical analysis tool helps traders identify possible reversal points and provides a certain reference for the future trend of Notcoin.
The market seems to be in a state of indecision, indicating that the Doji candle pattern formed near the 50% retracement level may reveal a potential buying opportunity.
Not is currently facing immediate resistance at $0.01895, which also happens to be where the 50-day exponential moving average EMA is located.
If Not can break through this barrier, the next levels to watch will be $0.01998 and $0.02361. On the downside, $0.01703 is an immediate support level, and if the price falls further, $0.01408 and $0.01194 will become potential buying ranges, which provide investors with support and security.
The relative strength index RSI value is 43.37. This index tracks the rate and magnitude of price changes to determine whether an asset is oversold. An RSI below 50 means that the market may be neutral or oversold, which may be good news for buyers.
Buying above $0.01700 may be a wise choice, and if the price can break through the $0.01895 resistance level, it is expected to rise further. This situation undoubtedly brings a hint of expectation and excitement to investors, but also full of opportunities and challenges.
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