$NOT Price Prediction: Another Drop Imminent - BeinCrypto Analytics

Notcoin’s technical setup below highlights the failure to break the bearish market structure. At press time, the cryptocurrency trades at $0.010.

Furthermore, the price is attempting to flip the 20-day EMA (blue) but remains clearly below the 50 EMA (yellow). EMA stands for Exponential Moving Average and measures a cryptocurrency trend direction over a period of time.

When the price is above the EMA, the trend is bullish. But since NOT’s price is below the short to mid-term indicators, the trend is bearish. Apart from that, the formation of a death cross, which is shown by the crossover of the longer EMA above the shorter one, gives credence to the bearish bias.

Additionally, the On Balance Volume (OBV), an indicator that gauges buying and selling pressure, is flat. This implies that NOT is starved of accumulation. Unless Notcoin’s market structure improves, the cryptocurrency’s price may drop to $0.0084. However, if market participants deem it fit to buy the dip and the price rises above the 20 EMA, the trend may reverse. Should this be the case, NOT’s price may reach $0.012.