Notcoin: A story from rising against the trend to falling prices

The general decline in the market may have thrown Notcoin (NOT) off its price prediction. At press time, NOT is priced at $0.017, down 12% in the past 24 hours.

On June 16, we reported that NOT was bucking the trend in price gains. However, this upward momentum did not last long, especially since the coin rose against the trend several times.

According to research, one reason for Notcoin’s price decline is the weakening buying momentum. At press time, the relative strength index (RSI) on the 4-hour chart fell to 43.20. The RSI measures the magnitude of price changes in the market and can also identify overbought or oversold areas. When the RSI reads 70 or above, it indicates that the cryptocurrency is overbought; when it is below 30, it indicates oversold.

Currently, the RSI is below the midpoint of 50.00, indicating that NOT’s momentum has turned bearish. If the reading continues to decline, Notcoin’s price prediction will become increasingly pessimistic.

However, the weighted sentiment remains above the negative territory. The weighted sentiment measures the market participants’ opinion of a project. A positive value indicates that most comments are bullish, while a negative value indicates bearish. For NOT, the positive value of the weighted sentiment may prevent it from falling further. If the situation is optimistic, NOT may jump to $0.021. But if it falls into the negative area, the price may fall to $0.015.

Meanwhile, the Notcoin team announced that the NOT airdrop claim has ended. NOT was launched to reward users who participate in the click-to-earn game. Airdrops occur when projects send cryptocurrency rewards to specific users.

Traders seem confident that NOT's price will rebound. Judging from the funding rate, Notcoin's funding rate is positive as of press time. This means that longs are paying shorts to keep their positions, and traders are bullish overall.

If this situation continues and buying pressure in the spot market increases, Notcoin's price prediction may far exceed previous targets.

In short, Notcoin's story has gone from counter-trend gains to recent price declines to a possible rebound in the future, full of unpredictable market dynamics. We will continue to pay attention to the movements of this interesting coin.

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