➡️ Market analysis:
Notcoin (NOT) is facing significant resistance at $0.01230, signaling potential trouble ahead. Market structure is weakening, with strong indicators pointing to a potential fall to the $0.01060 area.
➡️ Key levels to watch:
➖ Resistance: $0.01230 🚧
➖ Support: $0.01159 🔻
➖ Goal: $0.01060 🎯
➡️ Price Action:
Notcoin has tested the $0.01230 resistance multiple times, but to no avail. The bulls are struggling, and the $0.01159 support is under serious pressure. A break below this level could lead to a sharp decline.
➡️Technical indicators:
➖Bearish Luftwing Candle: The 4-hour chart shows a bearish Luftwing pattern, a strong signal that the downtrend may continue. 📉
➖Sharp increase in volume: The increase in selling volume at the resistance level of $0.01230 confirms that the bears are in control. 📊
➖RSI Downtrend: RSI is falling from overbought levels, indicating increasing bearish momentum. 🛑
➖Market sentiment:
The sentiment is becoming increasingly bearish. With the failure to break above $0.01230 and bearish patterns forming, sellers are gaining strength. Traders should prepare for a possible further decline to $0.01060.
➡️Scenarios for observation:
1️⃣Continuation of the bearish trend: a break below $0.01159 could accelerate the decline to $0.01060. 🚨
2️⃣Temporary Bounce: If $0.01159 holds, there could be a short-term bounce, but expect strong resistance at $0.01230. 🔄
🤔POV:Notcoin is on the brink! Bearish Luftwing pattern on the 4-hour chart suggests a possible drop to $0.01060. Stay vigilant and keep a close eye on key support and resistance levels as volatility is expected to increase. 💥
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