Over the past month, the price of Notcoin (NOT) has been rising, showing strong upward momentum.
Currently, Notcoin is trading at $0.008588, with the daily chart indicating a price increase of 14.05%. During the same period, its trading volume surged by 130.68%, reaching $403.29 million. Not only does the daily chart perform well, but the weekly chart also shows that this altcoin has increased by 14.79%, with a monthly increase of 13.03%.
Despite such a large-scale increase, it is still 70.7% lower than the historical high. However, in the current sharply rising market condition, analysts are quite attentive to NOT's trend and have varying opinions.
Market sentiment for NOT
Ali Martinez predicts that NOT's next price level will reach $0.12 and also points out that it will break through the descending wedge. Martinez mentioned in his analysis that since breaking through the descending wedge, NOT has been in a consolidation phase for the past two weeks.
In his view, this consolidation phase has allowed the altcoin to build strong upward momentum, which will push its price higher. With increased buying activity and inflow of funds, the liquidity needed for the upward trend is already in place, so according to his inference, NOT can reach $0.12.
However, although Martinez's analysis provides an optimistic outlook, other indicators and their implications need to be reassessed.
Firstly, AMBCrypto's analysis indicates that buyers of Notcoin are dominant, and this altcoin is experiencing strong upward momentum. From the indicators, the MACD line is above its signal line and histogram, which suggests that the asset is under upward price pressure, and the current upward trend will continue. Additionally, the RVGI indicator showed a bullish crossover in the past 24 hours, further confirming this upward momentum.
Moreover, Notcoin's open contracts surged by 20%, reaching a three-month high of $145.03. When open contracts rise, it indicates that investors are optimistic about the future market and are actively opening new positions. The influx of funds from new positions is usually a sign of rising prices.
In addition, the funding rate aggregated by exchanges has remained positive for the past week, which can be interpreted as most new positions being long positions, indicating that most investors are betting on price increases and are even willing to pay a certain fee to hold their positions.
Overall, Notcoin is currently riding a bullish wave, and market sentiment is positive. As bullish momentum continues to strengthen, there may be more upward space on its price chart. Therefore, if the current favorable conditions can be maintained, NOT is expected to reach $0.00992 in the short term, and if it can break through this price level, altcoins are likely to strengthen further, rising to $0.012.
