$NOT forms a classic bullish "Double Bottom" pattern.
♠️ FLN1 from «Fallen Xrypta Team» 🖤
🖥️ Technical Analysis
🔻 Key levels of support:
• $0.011595 - $0.011855: A double bottom zone that forms strong support and could become a starting point for growth.
• $0.012900: Current support level holding the price from further decline.
❎ Key resistance levels:
• $0.015143: Short-term resistance on the 4-hour chart.
• $0.021835: Strong resistance on the daily chart.
• $0.029458: A long-term target that can be reached in the event of a break above previous resistance levels.
📊 Indicators:
• RSI: The Relative Strength Index (RSI) is approaching the oversold zone, which could indicate a possible rebound.
• MA: On the 4-hour chart, the 50-day moving average (MA) crosses the 200-day MA from above, which could be a bearish signal, but there is now a consolidation.
• MACD: MACD on the daily chart signals a possible positive trend with the formation of divergence.
🟢 Bullish scenario
If NOT can hold above $0.012900 and overcome the resistance level of $0.015143, we can expect a test of the level of $0.021835. Increasing trading volume and positive divergence on the MACD support this scenario. A firm hold above $0.021835 opens the way to $0.029458.
💣 Bear scenario
If NOT fails to hold above $0.012900 and breaks below $0.011595, we may see a further drop to $0.010200. Negative signals on RSI and MACD could reinforce this scenario. A lack of buyers in the double bottom zone can lead to a rapid decline.
🔥 Market analytics:
1. Double Bottom Pattern: The current double bottom is a classic bullish signal that may indicate a possible trend reversal. But it is worth remembering about confirmation before entering a position.
2. Volume Analysis: Trading volumes on NOT/USDT indicate a possible rebound, but it is necessary to monitor the volumes when key resistance levels are broken.
3. Market Sentiment: The general mood in the cryptocurrency market can affect the dynamics of NOT. Positive news and the rise of major cryptocurrencies could reinforce the bullish trend.
4. Whale Activity: Recent large transactions on the network may indicate increased interest from whales, a potential bullish signal.
🏴 Risks
1. Regulatory News: Any news regarding the regulation of cryptocurrencies can significantly affect the price.
2. Market Volatility: The general volatility of the cryptocurrency market can cause sharp movements in either direction.
3. Liquidity: Insufficient liquidity in the market can lead to significant price fluctuations.
4. Macroeconomic Factors: Global economic conditions can affect investor sentiment and the dynamics of cryptocurrencies.
💠 Summary
$NOT is in a classic "Double Bottom" pattern, which can be a starting point for growth. The next few days will show whether NOT can break above key resistance levels or will resort to further declines. Keep your finger on the pulse and be prepared for any scenario.
Stay tuned and make decisions wisely! DYOR.
NOT price at the moment = 0.11941 USDT
