Notcoin (NOT) rally targets new ATH with $0.010 breakout – analysis by CoinPedia
Over the past 24 hours, Notcoin (NOT) has increased by 4.85% and is currently trading at $0.0088.
With the recovery rally in action, Toncoin and its high-ranking performer, Notcoin, are likely to make a bullish comeback.
With a market cap of $905.97 million, the 24-hour trading volume of Notcoin stands at $938 million. This results in a volume-to-market cap ratio of 102.81%, reflecting massive liquidity in the market.
In the daily chart, the Notcoin price action shows a falling-wedge breakout rally, gaining momentum. The pattern breakout rally has surpassed the 23.60% Fibonacci level at $0.0077 with a post-test reversal.
The reversal rally peaked at the $0.010 psychological mark but failed to sustain the rally. Over the past 24 hours, the altcoin has increased by 30% to create two consecutive bullish candles.
However, the intraday pullback of 6% reveals the massive overhead supply, followed by overnight rejection at the psychological mark. The bulls struggle to surpass the 38.20% Fibonacci level and the $0.0010 supply zone.
Based upon price analysis, the $0.10 breakout rally must sustain dominance above the 50% Fibonacci level at $0.001. This will increase the credibility of a bullish run ahead.
