Technical Analysis for $NOT
Current Price: 0.008570 USDT
In the recent trading sessions, $NOT has shown volatile behavior with a current slight downtrend, evidenced by the recent dip in the 15-minute chart. Over the past 24 hours, the price tested a high of 0.008955 USDT but faced resistance, pulling back towards its current levels.
Key Observations:
The 24h low at 0.008335 USDT is critical; it serves as the major support for $NOT.
The 24h high of 0.008955 USDT is now the resistance level to beat.
The trading volume indicates significant activity, suggesting interest in NOT remains high.
Market Sentiment: The market sentiment appears cautiously optimistic in the short term, considering the 12.71% increase over the past week. The negative 24-hour change suggests a pullback, but the weekly gain provides a bullish outlook, assuming support holds.
Conclusion: Traders should watch for NOT to hold above the 0.008335 USDT support. A successful break above the 0.008955 USDT resistance could set the stage for further gains. Conversely, a breakdown below support may trigger a sharper decline, making it crucial to have stop-loss strategies in place.
Trading Strategy:
Long Position: Initiate above 0.008955 USDT with targets set near the recent high and extend to 0.009100 USDT.
Short Position: Consider shorting below 0.008335 USDT if the price fails to hold support, with tight stop losses to manage risks.
