Notcoin Launches Triangle Accelerator Amid Market Uncertainty Read CoinChapter.com on Google News
NOIDA (CoinChapter.com)— Notcoin, the viral Telegram-based game, has announced a new accelerator program, Triangle, in partnership with DeFi platform 1inch and on-chain attestation protocol Sign.
This initiative aims to support developers building on the Telegram messaging platform and The Open Network (TON), leveraging Telegram’s 900 million active users to drive crypto application adoption. However, current market conditions cast doubt on its potential success.
Triangle Accelerator: Navigating a Bearish Market
The Triangle Accelerator will provide essential resources, guidance, and a community of experienced builders. It focuses on TON infrastructure, decentralized finance, and bridging Web2 and Web3 consumer applications. Mentors from Sign, 1inch, and the TON Foundation will guide participants.
The program will cover various aspects crucial for developers, including technical support, marketing strategies, and fundraising advice. Participants will have access to tools and resources that are often out of reach for early-stage projects.
Tweet about Notcoin launching an accelerator program. Source: X
Applications for the six-week program are open until Aug. 10. The program culminates in a demo day, during which participants showcase their progress to investors and partners. Despite its promise, the market’s bearish trends pose significant challenges.
Moreover, the Triangle program aims to create a robust network of alumni, offering ongoing support and opportunities for collaboration even after the program ends. The long-term approach aims to build a sustainable community of developers committed to advancing the TON and Telegram ecosystems.
While the Triangle program aims to enhance the Telegram and TON ecosystems, its success will depend on navigating current market turbulence and delivering tangible results to gain the crypto community’s confidence.
NOT Moving Inside A Bearish Setup
Meanwhile, NOT price is moving inside a bearish technical setup called the ‘descending triangle pattern.’
NOT price formed a bullish pattern with a 73% upside target. Source: Tradingview.com
Market analysts often consider the descending triangle a bearish continuation signal.
The configuration features a downward-sloping upper trendline, which gradually reduces the price action’s highs, and a flat lower trendline, which is a consistent support level the price finds difficult to break.
Moreover, the pattern suggests that selling pressure is intensifying, leading to successively weaker rallies. In this setup, the potential price target is typically gauged by the maximum height of the triangle at its widest point.
Hence, NOT price is yet to confirm the breakout from the descending triangle pattern. However, confirming the bearish setup might result in the NOT price dropping over 73% to reach the projected price target near $0.004
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