Notcoin (NOT) Price Prediction: Aiming for Old Highs Again
- WBOYOriginal
- 2024-07-17 11:41:28663browse
Telegram Coin Notcoin's (NOT) price is recovering from the recent drawdown, which helped it breach the downtrend line.
Telegram Coin Notcoin’s (NOT) price is showing signs of recovery from the recent drawdown, which helped it breach the downtrend line. Now, investors are showing strong support for the altcoin, evidenced by several indicators suggesting a potential for further gains.
Notcoin investors have been eagerly waiting for a price pump, and it's now becoming clear with the analysis of the funding rate, which shows consistent positive figures throughout the period.
This indicates a strong bullish sentiment among traders. Moreover, the funding rate is observed to be gradually increasing from a negative dip, which further highlights growing confidence in the market.
In addition to the funding rate, the Relative Strength Index (RSI) is also crucial. The RSI measures price momentum on a scale of 0 to 100, where values above 50 indicate buying pressure and below 50 indicate selling pressure.
Currently, Notcoin’s RSI is observed to be above the neutral line, suggesting a surge in buying pressure.
The combination of positive funding rate and high RSI indicates bullish momentum. Notcoin’s price, trading below the resistance of $0.01794, rose by 14% in the last 24 hours.
This barrier has been tested multiple times, and each time in the past month, the Telegram Coin failed to break through it.
However, investors showed strong optimism, which could help NOT finally breach past the resistance level. This would then allow a move up to $0.02000, increasing the potential gains for investors.
On the other hand, if the breach fails again, Notcoin’s price could be consolidated between $0.01794 and $0.01300. Losing the latter would invalidate the bullish thesis, causing Telegram Coin to lose its recent gains.
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