Notcoin(NOT), a popular game on the Telegram messaging platform, is up 0.8%, with the NOT/USD trading at $0.01542 at press time. Nonetheless, trading volume has decreased significantly, down 39% to $314 million. The broader market bearishness, characterized by high volatility impacting a variety of digital currencies, is associated with a decline in trading activity.
Despite the recent plunge, Notcoin’s price has increased by about 30% in the past seven days. Moreover, crypto investors, including Viking XBT, are bullish on the token. He took to the X platform, mentioning that the longer the Notcoin price takes to consolidate, the harder the token will pump.
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Still think $NOT looks super good. The longer it consolidates like this, the harder it'll push up. Patience. https://t.co/HfEv7UwxNY pic.twitter.com/o1ayt01IHg
— VikingXBT (@VikingXBT) July 11, 2024
This comes as Notcoin collaborates with 1inch and Sign to launch the Triangle startup accelerator. The triangle aims to enhance the Telegram crypto ecosystem and onboard millions to Web3.
NOTCOIN, 1INCH AND SIGN LAUNCH TON STARTUP ACCELERATOR
Notcoin, a trending Telegram-based game, is collaborating with DeFi veteran 1inch and Sequoia-backed Sign to launch Triangle, a startup accelerator focused on boosting Telegram and TON’s crypto ecosystems.
The first batch… pic.twitter.com/bZ40tRDvx5
— IBC Group Official (@ibcgroupio) July 10, 2024
Notcoin Statistical Data
Based on Coinmarketcap data:
- NOT price now – $0.01542
- NOT market cap – $1.65 billion
- NOT total supply – 102 billion
- NOT circulating supply – 101 billion
- NOT ranking – #51
On July 5, after the Notcoin bulls found support at around $0.0085, they attempted a recovery and pushed the price upward. However, they faced rejection at around the $0.018 mark, forcing the bears to step in and drive the price downward.
Nonetheless, the bulls and bears are tugging at the strings as they try to take control of the market. Let’s examine the technical information to see whether the NOT price is in for a bounceback or bearish sentiment.
To begin with, the Relative Strength Index(RSI) is at the 50-mean level, suggesting an equilibrium state in the NOT market. If the bulls manage to win the war, it could push the RSI above the mean level, tilting the odds in favour of the buyers and vice versa.
Notably, the NOT price gives mixed reactions, as it trades within the 200-day SMA but above the 50-day SMA. In this case, the $0.01375, which coincides with the 50-day SMA, acts as the immediate support, and $0.0155 acts as the immediate resistance key.
On the other hand, the Moving Average Convergence Divergence (MACD) supports a bearish stance, as it has crossed below the signal line. This momentum indicator suggests that the short-term moving average falls faster than the long-term moving average. As the momentum indicator hurtles toward the mean line (0.00) into the negative region, the path with the least resistance stays on the upside. However, the bulls might step in, and the NOT market will be painted as bullish.
Notcoin Price Prediction: Bullish Or Bearish?
In the 4-hour chart analysis, the NOT price is at equilibrium as the bulls and bears struggle to regain the market. However, if the bulls grow hind wings and use the 50-day SMA support, they could propel the price beyond the $0.018 resistance key, triggering a bullish rally. They could flip the 200-day SMA into support in a highly bullish scenario, targeting the $0.0222 major technical barrier.
Conversely, if the sellers increase their appetite, they could breach the $0.013 support mark, invalidating the bullish thesis. In a dire case, the NOT price could retest the $0.008 mark, which cushions against downward pressure.
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