Notecoin is down 70% since January, but won't the $ rebound soon? - AMB Crypto Analytics
Notcoin (NOT) has been on a downward spiral since its January peak of $0.02836, losing more than 70% of its value. Currently, NOT trades at $0.008488, down 4.8% in the last 24 hours. Despite this decline, technical analysis suggests a potential short-term rebound as the asset shows signs of oversold. Key levels to watch for a rebound are $0.0975 to $0.01018, and if breached, $0.0123 to $0.0129.
Beyond the technicals, fundamental data paints a mixed picture for Notcoin. Open interest rose a slight 0.53% to $145.80 million, but open interest volume fell 42% to $783.92 million, indicating a decline in trader confidence. Additionally, whale activity has dropped significantly, with major transactions down from 101 last week to just five.
This lack of major investor activity indicates limited confidence, which could hinder a strong recovery for Notcoin in the near term.
