Crypto analyst, melikatrader94 made a price analysis of Notcoin (NOT), describing where the price is likely heading next. This is following yesterday’s 30% recovery after the price dropped by 50%.
Based on the analysis, the price of Notcoin has been following a descending wedge pattern, which could lead to a bullish reversal. The price has consistently been making lower lows and lower highs, but it is now approaching the bottom line of the wedge.
This means that there is a possible breakout if the buying pressure continues to increase. The price recently touched the bottom of the wedge, which indicates a potential support zone where buyers might step in.
Read Also: This Key Level Will Determine Solana’s Next Direction: SOL Price Analysis
It is now approaching a resistance zone marked in gray. A close above this area could trigger a move higher toward the top line of the wedge, around the $0.0145 level.
Potential Scenarios for Price Movement
If the NOT price closes above the gray resistance area in the chart, we could see an upward move to the top line of the wedge. However, if it fails to close above this area, it might continue to trade within the wedge or test the last major support level again.
A breakout from the top trendline of the wedge will be interpreted as a strong bullish signal, which could lead to a significant upward move.
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The post Analyst States Conditions for Notcoin (NOT) ‘Strong Bullish’ Price Rally: Highlights Key Levels to Watch appeared first on CaptainAltcoin.
