Notcoin Price Forecast: $1 Breakout on the Horizon as NOT Approaches All-Time High?
The Notcoin price has risen today, despite a general market pullback; it may continue to rise as it approaches its all-time high.
Amidst a wider correction in the cryptocurrency market, the price of Notcoin has risen by 4.47% in the last 24 hours, reaching $0.017223.
Following the trend of major cryptocurrencies like as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), Notcoin has also seen a retreat, with a weekly loss of 21.66%.
Nevertheless, there seems to be renewed interest in the currency as its 24-hour trading volume has increased by 61.23% to $1.25B in the last 24 hours.
The most striking change over the last day is the decrease from 80 to 30 in the relative strength index (purple) of Notcoin. The rising impetus seems to have diminished, indicating a possible impending consolidation.
The fact that Notcoin has recently failed to recover from the $0.017688 support level (red) lends credence to this. This means that prices cannot remain above that level due to insufficient purchasing pressure.
If NOT wants to continue its ascent and maybe shatter its all-time high on the way to $1, it will need more substantial momentum.
The 30-day moving average (yellow) is nearing the 200-day moving average (blue) and is going upwards, despite the present unfavorable indications. This points to the fact that momentum in the near term is still good.
It may be an indication that the short-term momentum is strong enough to impact a long-term uptrend if the 30-day moving average convincingly crosses above the 200-day moving average.
Technical signs point to upward price movements in the near future, but fundamental issues will likely determine if growth can be sustained in the long run.
The Federal Reserve's unexpectedly aggressive position on possible rate reduction has cast a shadow over lower consumer inflation numbers, and this has had a considerable impact on the whole space.
#TopCoinsJune2024 #Notcoin $NOT @The Notcoin Official
