Notcoin (NOT), a Telegram-based cryptocurrency, has seen a significant price fluctuation over the past 24 hours following a bearish trend. The price hovers below $0.012, down 7.19%, indicating a downward trend. At the time of writing, the altcoin was trading at $0.01198, with a noticeable decrease during European trading hours.
Notcoin’s market cap has also dipped by 7.21% to approximately $1.23 billion, ranking it 59th in global market capitalization. Meanwhile, the trading volume has surged by over 39.03% to $315,328,735, suggesting heightened trading activity despite the price drop.
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Notcoin Price Prediction: Is a Recovery on the Horizon?
Notcoin has experienced a 50% decline in value over the past month amidst a general cryptocurrency market downturn. This drop is part of a more significant trend of increased volatility affecting various digital currencies, including Bitcoin.
Notcoin’s trading price recently fell by 7%, fluctuating between $0.012 and $0.011. This downward movement is largely due to a surge in sell-offs across the market.
Notcoin and Helika Partner for Telegram Gaming Accelerator
Notcoin has announced its collaboration with Helika, a Web3 gaming analytics platform, to launch the Telegram Gaming Accelerator program. This new initiative is set within the Open Network (TON) ecosystem and focuses on interactive tap-to-earn game projects.
The program’s goal is to utilize the growing trend of blockchain-based mini-applications. It offers vital support to developers pioneering gaming apps for the Telegram platform.
Telegram Gaming Accelerator 🕹️
Notcoin introduced new meta: Telegram mini apps for millions of users, empowered by blockchain.
Now, together with @HelikaGaming, we want to expand it and open an accelerator for game developers who will lead the wave of Telegram games. pic.twitter.com/6rGfzZrEnH
— Notcoin Ø (@thenotcoin) July 3, 2024
Earlier this year, Helika successfully rolled out its first accelerator with backing from prominent venture capitalists, including Sfermion, Pantera Capital, and The Spartan Group. This effort provided traditional and Web3 game developers with crucial insights into game design, economics, player engagement, and operational strategies.
The success of this earlier initiative has paved the way for this new collaboration, which aims to enrich the gaming landscape on Telegram further.
Indicators Point to Continuing Bearish Trend for Notcoin
Notcoin may be approaching a bearish phase, as current market trends suggest a possible correction. Market pessimism could lead to a new support level at $0.012 for Notcoin. If negative trends continue, its price might further decline to about $0.011. This indicates the high volatility typical of the cryptocurrency sector. Under increased bearish pressure, Notcoin could decrease to $0.01.
Conversely, Notcoin could break the $0.012 resistance point if market conditions improve. Such a rise might elevate its price close to $0.013. With sustained positive momentum, the price could potentially climb to $0.02 in the near term.
The technical indicators for Notcoin against Tether suggest a bearish trend on the 4-hour chart, as observed from the recent price movements. The Moving Average Convergence Divergence (MACD) indicates a bearish momentum as the MACD line remains below the signal line, and both lines continue to trend downwards.
Most of the moving averages and oscillators are indicating a sell, which reinforces the bearish sentiment visible in Notcoin’s current market trend. Furthermore, the Relative Strength Index (RSI) is currently at 26, signaling that the asset is potentially oversold.
This could suggest that while the current sentiment is bearish, a price correction or reversal might occur if buyers step in at these lower levels. The 20-Exponential moving average is above the 10-EMA on the daily chart, indicating a possible continuation of the downward trend.
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