NOT/USDT Facing Downward Pressure, Testing Key Support Levels
NOT/USDT is currently trading at $0.00736, down by -2.78%. The price is testing key support levels, having dropped below the 200-period moving average at $0.00908, indicating a bearish trend in the short term. Additionally, the price is below the VWAP at $0.00740, which reinforces the bearish sentiment.
The RSI is at 35.26, which is approaching oversold territory. This could signal a potential for a short-term bounce or consolidation as the selling pressure starts to ease. However, the RSI is not yet oversold, leaving room for further downside movement.
The MACD shows a bearish divergence with the MACD line at -0.00003 and the signal line at -0.00005, while the histogram is negative. This confirms the ongoing bearish momentum, which could drive the price lower unless there is a shift in market sentiment.
Key support levels to watch are around $0.00700 and $0.00650. A break below these levels could push the price toward $0.00600 or lower, depending on market conditions.
On the upside, immediate resistance lies at $0.00750, with stronger resistance around $0.00800. A move above these levels would be needed to shift the momentum back towards the bulls and test higher levels.
Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research before making trading decisions.
#6thTrade #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #FTXSolanaRedemption #MarketSentimentToday
