$NOT Surges 60% as Bulls Re-emerge to Control Market - BeinCrypto Analytics

Readings from Notcoin’s (NOT) Directional Movement Index (DMI) indicator confirm the resurgence in bullish bias toward the altcoin.

The indicator measures an asset’s price trend and direction. It consists of the Positive Directional Indicator (+DMI), the Negative Directional Indicator (-DMI), and the Average Directional Index (ADX).

The +DMI measures the strength of upward price movements, while the -DMI measures the strength of a price downtrend. 

NOT’s +DMI line crossed above its -DMI on July 7. This crossover is regarded as a bullish signal because it indicates that the asset’s price uptrend is becoming stronger than its downward movements. It often signals a shift in momentum towards a price rally.

On the same day, NOT’s price crossed above its 20-day exponential moving average (EMA) and 50-day small moving average (SMA).

An asset’s 20-day EMA measures its average price over the past 20 trading days, while the 50-day SMA tracks the average closing price of an asset over the past 50 days.

As of this writing, the token’s weighted sentiment is above the zero line at 0.05. This metric tracks the overall mood of the market regarding an asset. It considers the sentiment trailing the asset and the volume of social media discussions.

When the value of an asset’s weighted sentiment is above zero, most of its discussions on social media platforms are fueled by positive emotions. 

If NOT continues to enjoy this positive bias, its price might rally to exchange hands at $0.017.