An analyst on the popular trading platform TradingView has signaled that the ongoing rally in Notcoin (NOT) may be coming to an end, with a potential price correction of 30% or more on the horizon.
The Wave 5 Rally ConcludesAccording to pejman_zwin, a TradingView analyst, Notcoin’s fifth wave of the current bullish cycle appears to have concluded. This assessment is based on the Elliott Wave Theory, a technical analysis approach used to identify recurring price patterns in financial markets.
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Pejman_zwin cites the breaking of the uptrend line as a confirmation sign of the end of Wave 5, which saw Notcoin surge more than 30% from its recent lows.
Potential Support Levels If the analyst’s predictions hold true, Notcoin could experience a significant pullback, with a potential dip of at least 30% from its current price levels. Pejman_zwin has identified a key support zone around $0.009, where the downward momentum may stall.
However, should this support level fail to hold, the analyst warns that Notcoin’s price could potentially drop further, targeting the $0.007 and $0.0064 levels successively.
Conversely, if the $0.009 support level holds firm, pejman_zwin anticipates a continued rally, potentially pushing Notcoin back towards the $0.01 mark.
In the analysis, pejman_zwin emphasizes the importance of risk management and avoiding greed in trading. The analyst recommends setting stop-loss orders for any open positions and adhering to a well-defined trading strategy.
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The post Notcoin (NOT) Wave 5 Rally Ends; Analyst Predicts 30%+ Dip to Next Key Support: Watch These Price Levels appeared first on CaptainAltcoin.
