Overall Trend:
NOT/USDT has recently shown signs of recovery after breaking out of a prolonged downward channel. While it has surpassed the 200-period moving average on the 4-hour timeframe, it is now consolidating near a key resistance zone, indicating potential indecision between bulls and bears.
Support and Resistance Levels:
Resistance: $0.00880 - $0.00920 (key rejection area visible from recent candles).
Support: $0.00700 - $0.00750 (previous accumulation and demand zone).
Technical Indicators:
RSI (14): Currently at 47.22, indicating neutral momentum. It suggests the market is neither overbought nor oversold but shows slight bearish divergence from the recent price action.
MACD (12,26): The MACD line remains close to the signal line, showing a lack of strong momentum, with a slight bearish tilt.
Volume: Recent spikes in volume during upward movements suggest bullish attempts, but the current lower volume signals consolidation.
Cluster and Zone Analysis:
Accumulation Zone: The $0.00700 - $0.00750 area served as a strong base for the recent upward movement and is likely to remain critical for support.
Resistance Zone: The $0.00880 - $0.00920 area remains a significant barrier. Multiple rejections from this level are visible, suggesting this is where sellers are most active.
Channel Analysis: The broader trend appears to be a gradual shift from a descending channel to consolidation, which might precede further directionality.
NOT/USDT is at a critical juncture as it consolidates near the 200-period moving average. Traders should watch for a breakout above $0.00920 for bullish confirmation or a breakdown below $0.00750 for a bearish scenario. Current conditions favor cautious optimism, with the 200-period MA acting as a pivotal support level.