Notcoin (NOT) price prediction – analysis by Coindoo
Notcoin ($NOT ) has been making waves in the crypto world lately. This interesting cryptocurrency, built on the TON blockchain, uses games to teach people about Web3. But with its unusual ways, like a blank whitepaper and just a popular Telegram game launch until now, some people wonder: is NOT a groundbreaking project or just a short-term trend?
As of May 17, 2024, the price of Notcoin is currently showing a bearish trend on the five-minute timeframe, reflecting ongoing selling pressure. The Relative Strength Index (RSI) is low, indicating that buyers are not actively participating in the market.
Additionally, the Moving Average Convergence Divergence (MACD) remains negative, further highlighting the prevailing bearish sentiment.
Given these indicators, it’s likely that the price of Notcoin could fall to a low of $0.005676 before any potential recovery.
On the positive side, a closer examination reveals that Notcoin is consolidating within a falling wedge pattern, which is typically a bullish reversal signal. This pattern suggests that the price could surge once it breaks out.
Traders interested in taking long positions should consider waiting until Notcoin breaks above the upper boundary of the wedge pattern. Confirmation of this breakout could be seen if the price moves above the psychological level of $0.007000, establishing it as a new support level.
The potential target for this falling wedge breakout is calculated by adding the maximum distance between the upper and lower trend lines to the breakout point. Based on that, some opinions indicate a possible 50% rally, aiming for the $0.010427 mark.
