With the crypto market witnessing a bullish reversal overnight, the altcoin segment offers an opportunity to enter the bullish market. Amid rising altcoins, the NOT price prediction signals a new breakout bull run ahead.
Is Notcoin ready for a breakout run?
Current status: NO) trading at 0.01605 USD with a market cap of 1.645 billion USD. While down 7.27% on the day, it saw a 14.44% gain overnight, challenging the overhead trendline.
Bull Cycle: From psychological support at $0.010, Notcoin is challenging overhead supply for a breakout. Despite rising 70% in nine days, it is still having difficulty overcoming supply pressure at the descending trendline.
Reversal warning: The trend toward lower highs continues, warning of a reversal rally to the psychological buffer at $0.010. However, a broader market recovery could lead to a breakout rally above the trendline.
Technical indicators:
RSI: The daily RSI crossed above the halfway line, reflecting an increase in underlying demand.
MACD: Consolidation of MACD and signal lines leads to a bullish crossover and a positive histogram increase.
These momentum indicators reinforce the bullish trend and suggest a continuation of the uptrend in Notcoin (NOT) price.
Will Price NOT Hit $0.050?
Inverted Head and Shoulders Pattern: Despite the sideways trend change, price did NOT create an inverted Head and Shoulders pattern with the neckline at $0.017. However, the recent rejection from the trendline warns of a failure in the bullish trend.
Breakout Potential: A breakout could push the altcoin price to $0.031 by the end of July. Optimistically, the uptrend could continue to reach $0.045 or the 1.618 Fib level.