💵 According to AMBCrypto: $NOT Showed Bullishness

The $0.00544 level was marked in green and highlighted the downtrend’s lower high from the 22nd of May.

Notcoin breached this level on the 25th of May and formed a higher low at $0.00493. In doing so, it hinted at a bullish trend shift.

Since that higher low, NOT has gained 16% and looked to climb higher. The $0.0058-$0.006 region could serve as resistance to NOT. The RSI indicated strong bullish momentum in the one-hour timeframe.

However, the OBV was not able to climb past a local session till the time of writing. A move past it would be a sign of strong buying pressure and a continued rally.

The Fibonacci extension levels at $0.006, $0.0064, and $0.0068 are the next targets for the buyers.

Notcoin is listed on Binance, WhiteBIT, OKX exchanges.

The Open Interest grew from $44 million to $61 million in the past 24 hours, as prices also rose by more than 10% in the same period.

This was a sign of bullish conviction in the Futures market and showed traders willing to go long.

The recent surge also caused a flurry of short liquidations, which drove prices even higher. However, despite this pressure, the spot CVD was relatively quiet.

It has not embarked on an uptrend like the price, which raised the concern that buyers in the spot market were scarce and a large part of the rally could be driven by derivatives.

This would need to change for a sustainable rally to take place.