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$NOT Currency Recommendations
General trend
The chart indicates a continued downtrend, with a strong decline occurring at 0.006156 and then a slight correction attempt that failed to break the moving averages.
Current price: 0.007875
Decrease rate: -3.20%
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Moving Averages (MA)
MA(7): 0.007939 🟡 -> represents an initial resistance level close to the price.
MA(25): 0.008121 🟠 -> Forms a strong resistance that needs to be broken to return to positive momentum.
MA(99): 0.008085 🔵 -> Long-term average reinforces the downtrend.
Conclusion: The current price is trading below all moving averages, which reinforces the downtrend.
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Technical indicators
1. Relative Strength Index (RSI)
Current value: 28.48 🟡 -> Clear oversold, which may open the way for a corrective move upwards.
2. Stochastic RSI
Values:
K: 30.90
D: 28.18
The indicator is in the oversold range but indicates a slight rebound is starting.
3. MACD indicator
DIF: -0.000085
DEA: -0.000061
MACD: -0.000024
Conclusion: The indicator is still negative, and has not yet shown a positive crossover.
4. Williams %R Indicator
Current value: -76.47 🔻 -> Sharp oversold that may lead to a slight rebound in the short term $NOT .
5. Trading Volume (VOL)
Current size: 89.5M
OBV: 5,026,609,571
Conclusion: Low volume indicates a lack of buying momentum.
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Support and resistance
First support: 0.007755 🟢
Second support: 0.006156 ⚠️ (previous low)
First resistance: 0.007939 (MA7) 🟠
Second resistance: 0.008121 (MA25) 🔵
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Possible scenarios
Positive (corrective) scenario
If the price breaks the resistance of 0.007939, it may target:
0.008121 as a second resistance.
0.008500 as a higher correction target.
Negative scenario (continued decline)
Continuing the decline and breaking the support at 0.007755 will push the price towards:
0.007500
0.006156 (strong support bottom).
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Conclusion and recommendations 📌
Current trend: Bearish with oversold signals on indicators.
Recommendation:
Wait for confirmation of breakout of 0.007939 resistance before considering buying $NOT .
In case of a bearish break of the support 0.007755, beware of the continuation of the decline.
Stop Loss: Below 0.007500 to avoid big risks.