Notcoin Price Slumps 4% – Will the Bulls Gain Momentum and Sweep Resistance Keys?

Notcoin price is roaming in the red zone, as it has dropped 4% in the past 24 hours to exchange hands at $0.0073. Its 24-hour trading volume has also plunged 11% to $88 million, signaling a recent fall in market activity. Despite the dip, NOT is now up 1% in a week, while it remains down 10% in a month and 49% in a year. Meanwhile, TON Blockchain has been successfully integrated into Ledger Live, a popular cryptocurrency management application.

Ledger Live Integrates With TON

Advertisement

With @Ledger’s collaboration with @_zondax_ , users will now be able to manage their $TON and $NOT natively in Ledger Live crypto wallet in a secure and user-friendly way. 

Don’t miss out on this chance to up your Web3 safety!

Try now:… pic.twitter.com/93WKDUzYzO

— TON 💎 (@ton_blockchain) October 9, 2024

This splendid update enables users to seamlessly manage their Toncoin and Notcoin tokens directly within the app, providing a secure and user-friendly environment for tracking their assets. On the other hand, Coinglass data shows that the TON-based coin has some bearish prospects.

This is evident as the NOT Long/Short Ratio has plunged below 1, currently at 0.93. In other words, a close above 1 indicates that the average open position is bullish, and vice versa. Meanwhile, it sits below one at 0.93, suggesting that the average open position in the NOT market is bearish.

Notcoin Statistical Data

Based on CoinmarketCap data:

• NOT price now – $0.0073
• Trading volume (24h) – $88 million
• Market cap – $752 million
• Total supply –102 billion
• Circulating supply  – 102 billion
• NOT ranking – #82

NOT Bulls Show Resilience Despite Bearish Technical Outlook

The Notcoin price has been in a prolonged downtrend after facing rejection around $0.0084. However, the bulls have gathered stamina, establishing strong support at $0.0071, cushioning against further losses. This has resulted in a falling channel, with the bulls showing signs of recovery. This is evident as two green candlesticks paint the 4-hour chart in the Notcoin price.

Meanwhile, the bears have entirely taken the reigns, as they have dwindled the price below bullish key indicators. To start with, the NOT price trades below the 50-day and 200-day Simple Moving Averages (SMAs). The $0.0074 and $0.0077 act as immediate resistance keys, cushioning the bulls against upward movement. 

Moreover, the Relative Strength Index (RSI) is below the 50-mean level, suggesting increased selling pressure. Currently, it sits at 43.09. However, the momentum indicators show potential for rising in the short term. If investors start stacking their bags with Notcoin at this level, the RSI could jump above the 50-mean level to the overbought regions, invalidating the bearish bias.

Worsening the outlook is the Moving Average Convergence Divergence (MACD), which plunged into the negative territory and flipped below the orange signal line. This suggests that the sellers have the upper hand, which may cause the NOT price to fall.  

Notcoin Price Prediction

The bearish sentiment is bold in the Notcoin market, tilting the odds in favor of the bears. Based on the technical outlook, the NOT price could plunge if the bears dominate the market. In such a case, the $0.0066 support level would cushion against further downward pressure. 

On the flip side, with the bull showing resilience in the market, it may cause the NOT price to surge. On the upside, if a strong tailwind builds behind NOT, the token can wipe out the next critical resistance shown by the 50-day SMA (green) at $0.0074. Note that gains above this price point could resume a significant uptrend starting with a step above the 200-day SMA (blue) at $0.0077 ahead of a more substantial breakout to $0.009 or even $0.01.

Advertisement