The price of Notcoin (NOT) has been moving sideways for the past 10 days, hinting at no particular direction. The consolidation follows days of downward slide inside a descending channel.
With Notcoin dip slowing down and the price trading outside the descending channel, one could easily call a bullish move. However, with the price not spiking as expected, there is a need for a more cautious approach.
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SwallowPremium, a TradingView analyst, weighed in on this interesting price action and saw two possible scenarios for Notcoin. The analyst’s views are as follows:
Based on his analysis, there are two possible scenarios for Notcoin:
The first scenario
The first scenario is bullish, with the hope that the price breaks above the upper resistance level of $0.017. Following that, the chart suggests we could see a spike back to $0.02.
The second scenario
There is also a possibility of a bearish breakdown below the 200 EMA. Breaking below the key level could make the price continue to drop until it reaches strong support.
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The post Notcoin Chart Looks ‘Interesting,’ Says Crypto Trader; Outlines Two Possible Scenarios for NOT Price appeared first on CaptainAltcoin.
