Notcoin (NOT) Surges 60% as Bulls Re-emerge to Control Market – analysis by BeInCrypto
NOT, the token that powers the Telegram-based game Notcoin, has seen a spike in its price since July 6. Trading at $0.016 at press time, the altcoin’s price has since surged by 60% since then.
An assessment of some of the token’s key technical indicators reveals that the bulls have regained market control, hence the 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.
When an asset’s price rises above these key averages, it indicates bullish momentum. It suggests the asset is experiencing an uptrend and positive sentiment among traders.
If NOT continues to enjoy this positive bias, its price might rally to exchange hands at $0.017.
However, if market participants commence profit-taking activity at this current price level, the token’s value might be down to $0.014.
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