$NOT Price Prediction: The Telegram Coin Is Oversold - BeinCrypto Analytics

Yesterday, Notcoin’s price dropped to $0.0088, a level last seen during the broader market drawdown earlier this month. A further slide below this point could have spelled trouble for the cryptocurrency associated with Telegram.

However, as seen in the chart below, NOT has rebounded to $0.0093. The daily chart also highlights the Money Flow Index (MFI), showing that NOT is currently oversold. In crypto, an oversold asset often increases the likelihood of a price rebound.

For those unfamiliar, the MFI analyzes price and volume to gauge buying and selling pressure, identifying overbought and oversold conditions. An MFI reading of 80.00 or above signals overbought, while 20.00 or below indicates an oversold state.

With a current MFI reading of 18.30, Notcoin is oversold. If buying pressure builds, the cryptocurrency could aim for a short-term target of $0.012. However, if selling pressure intensifies or more negative news surfaces, like further developments in Durov’s arrest in France, NOT could decline toward $0.0077.