💵 Notcoin Price Prediction as $NOT Nears All-Time High – $1 Breakout Incoming? - CryptoNews Analytics

Notcoin uptrend seems to have been revived after a change in momentum over the past 48 hours.
Most notably, Notcoin’s relative strength index (purple) has dipped from 80 to 30 over the past 24 hours. This suggests that the upward momentum has weakened, hinting towards consolidation.

This is reinforced by Notcoin’s recent failure to rebound from the $0.017688 support level (red). This indicates that the buying pressure is not strong enough to sustain prices above that level.

To see further upside and potentially break its all-time high on the road to $1, NOT will need more significant momentum.

Despite current negative indicators, the 30-day moving average (yellow) is trending upward and approaching the 200-day moving average (blue). This suggests that short-term momentum remains positive.

If the 30-day moving average decisively crosses above the 200-day moving average, it could signal that the short-term momentum is strong enough to potentially influence a long-term uptrend.

While technical indicators suggest positive short-term price movements, sustainable long-term growth will likely hinge on fundamental factors.

Most significantly, the space at large is being greatly limited by The Federal Reserve’s unexpected hawkish stance on potential rate cuts, which has overshadowed softer consumer inflation figures.

The Fed kept interest rates unchanged. The benchmark rate is projected to reach 5.1% this year. This suggests only one rate cut in 2024.

This undercuts previous anticipations of up to 3 rate cuts, putting pressure on the market and creating uncertainty among traders.