Notcoin Price Prediction: NOT Tops Weekly Losers With A 23% Slump As This P2E DOGE Derivative Rockets Towards $5 Million
The Notcoin price has slumped 23% over the past week and almost 2% in the last 24 hours to trade at $0.01411 as of 5:30 p.m. EST on a 16% plunge in trading volume.
The slump made NOT the biggest loser in the past week among the biggest 100 cryptos by market capitalization, according to Crypto Bubbles.
Notcoin Price Signals A Reversal Above The Wedge
Notcoin (NOT) has been declining since Thursday, with prices continuing to drop into the weekend. According to data from GeckoTerminal, the resistance point at $0.02627 has enabled the bears to drive the price down in a corrective phase.
This has resulted in a tug-of-war between buyers and sellers, forming a falling wedge pattern. Traders often see this pattern as a potential signal for a bullish reversal trend.
Despite the plunge, the bulls seem resilient, stopping the bears from further profiting and pausing a strong support level along the lower trendline of the wedge. If the bulls continue the upward momentum from this support zone, they could propel the price to reclaim the $0.02179 high.
The price indicators hint at a potential bullish rally as the price approaches the 50-day simple moving average (SMA). With a little push from the 200 SMA, the price could jump above the wedge, confirming the bull rally.
Meanwhile, the relative strength index (RSI) has bounced from the 30-oversold level and is now trending near the 50 midline at 45. If buying pressure keeps increasing, it could push the price into the overbought zone.
Additionally, the MACD is showing signs of a bullish rebound below the neutral level. The blue average line is crossing over the orange signal line, and the histogram turns green just above the neutral line, indicating support for the bullish rally ahead.
Notcoin Price Prediction: More Upside Ahead
There’s still a chance for the bulls to recover their losses on the NOT price. If the price surpasses the 50-day SMA, it could enable the bulls to push the price up. Additionally, the presence of the falling wedge could help the bulls catapult the price to 0.02838, its all-time high.
However, if the bulls fail to break through the 50-day SMA coinciding with the upper boundary of the wedge, the bears might take control and drive the price below the current support level of $0.005205.
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