🪙Telegram's Notcoin (NOT) set for a 100% price rally🚨
🔥Notcoin (NOT) has fallen 50% over the last month from its high of around $0.029. Despite this, the Telegram-linked cryptocurrency is now showing signs of a possible rally.
🚀A classic bullish pattern called the inverse head and shoulders is forming, which could signal a possible recovery.
Notcoin (NOT) forms a bullish inverse head and shoulders pattern.
📃An inverse head and shoulders (IH&S) pattern is identified by three troughs: a lower low, known as the head, situated between two higher lows, the shoulders. This pattern is completed when the price breaks through the neckline, drawn connecting the peaks at the end of the left and right shoulders, accompanied by substantial trading volume. The price is expected to increase by an amount equal to the distance between the valley of the head and the neckline.
😱As of July 12, Notcoin (NOT) is in the process of forming the right shoulder of its IH&S pattern and is poised for a break above the neckline resistance around $0.017
🤯If this breakout occurs, NOT's price target could rise to around $0.031, marking a potential upside of over 100% from current levels.
📢Conversely, if the price falls below the lowest point of the right shoulder, around $0.0133, it could drop to $0.011, which was a support level in May.
