Notcoin price trend is showing a continuous lower high formation as the daily chart is trending down. The corrective frenzy in NOT price has resulted in a resistance trendline forming which is restraining the bullish growth.

However, the sudden overnight surge in the cryptocurrency market signals a possible rebound for Notcoin. Will the bullish reversal in NOT price lead to a breakout rally towards the $0.031 mark?

Notcoin Price Performance

NOT has a market cap of $1.442 billion and is trading at $0.01605, up 4.56% intraday. The bullish reversal signals a bottom is in place, challenging the overhead resistance trendline.

Furthermore, NOT price is showing an inverted shoulder pattern with the resistance trendline acting as the neckline. With the shift in underlying sentiment, Notcoin’s breakout chances are increasing. Moreover, the intraday bullish engulfing candle undercuts the previous day’s decline.

Technical indicators:

RSI: The daily RSI line below the 50% level signals a reversal. Meanwhile, the sideways trend during the decline strengthens Notcoin’s chances of rising.

MACD: MACD and signal line are moving sideways in the daily chart with increasing chances of positive crossover. Hence, the momentum indicator strengthens the bullish chances of NOT price.

Won’t the price reach $0.030?

Despite the rapid decline, the sideways movement in NOT price trend is signaling a bottom reversal. Moreover, the inverted head and shoulders pattern will determine Notcoin’s upcoming rally.

A breakout move could push the altcoin price to the $0.031 mark by the end of August. Optimistically, the uptrend can continue to $0.045 or the 1.618 Fib level.