Notcoin's more than 30% Surge
Is the Bottom In and the Rally Just Beginning?
8 major points to answer:
1. Double Bottom Pattern:
- Emerging at $0.0091 support, signaling a potential market bottom.
2. Resistance Levels:
- Key resistance from the 20-day and 50-day EMAs around $0.0133.
- These could challenge further upward movement.
3. Trading Volume Trends:
- Price surged 30%, but trading volume fell 26% in 24 hours.
- Indicates potential weakness in buyer conviction.
4. Price History:
- Experienced a dramatic decline from $0.018 to $0.0085 (52% drop).
- Recent recovery to $0.012 has boosted market cap to $1.274 billion.
5. Market Impact:
- $751.1K in short positions liquidated, increasing market uncertainty.
6. Relative Strength Index (RSI):
- Increased to 46%, reflecting a rise in demand.
7. Open Interest:
- Fell by 37.5%, from $142.15M to $88.8M.
- Suggests decreasing investor confidence.
8. Potential Downside:
- A drop below $0.0091 support could result in a further 52% decline to $0.0045.
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