Notcoin (NOT), a Telegram-based cryptocurrency, has experienced significant gains in the past day following the market trends. Notcoin is trading in an ascending trend, with the altcoin rallying above the $0.016 level. This indicates a positive momentum as the price eyes more gains. At the time of writing, Notcoin price is currently at $0.01613, with a strong surge of more than 8.02%.
The trading volume for Notcoin in the past 24 hours is $410.06 million, reflecting a substantial increase of 66.37%, indicating heightened investor interest and activity. The market cap for Notcoin is currently at $1.65 billion, marking a 7.95% increase, ranking it at position #52.
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Potential for Significant Gains
Over the past week, Notcoin price has declined by 2.57%, with bulls and bears struggling for control. Notcoin price has been trading in a range bound of $0.01483 to $0.01693. Over the past month, the Notcoin price has decreased more than 27% after the cryptocurrency market faced a broad sell-off.
However, the current market recovery shows signs of potential stabilization and possible upward momentum. Since the Notcoin price hit an all-time high (ATH) of $0.02896 on June 2, 2024, it has experienced a significant decline of 43.91%. Despite this, the recent market activity shows a possible stabilization, with the price currently trading in an uptrend.
According to Coinglass, recent market activity has seen significant increases in volume and open interest. The volume surged by 52.21%, reaching $1.48 billion. Concurrently, open interest rose by 17.96%, totaling $176.39 million, showing increased market trading activity.
Most of the cryptocurrencies today are trading in green charts following a renewed wave of investor optimism and positive market sentiment. Bitcoin is currently hovering above $63,000, Ethereum has surged past $3,300, and other major altcoins are also showing significant gains.
Is a Surge Above $0.05 Possible in the Coming Weeks?
In recent market activity, Notcoin’s price has approached a significant resistance level of $0.017. If the bullish trend persists, the digital currency could rise to $0.05, potentially reaching $1 in the next bullish run.
However, if market sentiment turns negative, Notcoin might fall back to a support level of around $0.016. A continued decline could see the price dip to approximately $0.014, indicating a bearish phase for the cryptocurrency.
Technical Indicators Signal Bullish Momentum
The 4-hour technical indicators for the Notcoin price show a bullish trend. The Relative Strength Index (RSI) is currently at 58, indicating a potential upward momentum as it hovers above the neutral 50.00 mark. This suggests that the buying pressure is higher than the selling pressure, hinting at a possible upward trend continuation.
Moreover, the Moving Average Convergence Divergence (MACD) indicator reveals further bullish signals. The MACD line (blue) has crossed above the signal line (orange), with values of 0.000165 and 0.000047, respectively. This crossover is often interpreted as a buy signal, reinforcing the positive outlook.
Most of the moving averages and oscillators indicate a strong buy. The 20-Exponential Moving Average (EMA) is currently above the 50-EMA, indicating a bullish crossover and suggesting that the recent price trend is gaining strength.
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