Notcoin Price Analysis: NOT Targeting $0.1 After 89% Weekend Rally?

Notcoin price analysis: NOT witnessed another burst in price action, extending previous gains by as much as 89%, hitting a new high of $0.029. Notcoin price was hovering around $0.02143 during European trading hours on Monday, a 22.3% increase in the last 24 hours and a 302% increase in the past 7 days. 90% of CoinGecko users are bullish on Notcoin with a measly 10% on the other end of the spectrum. 

Notcoin Price Analysis: Bulls Look to Break Previous All-Time High Price as NOT Takes a Breather

Notcoin price is trending far above the 50-day and 200-day simple moving averages (SMA), a bullish indicator for investors. In the meantime, the price has retraced to the 0.5 Fibonacci retracement level, which coincides with $0.021. This key retracement level often provides support for assets in price discovery mode. 

A bounce from here could see NOT price touch the 0.27 Fibonacci extension level around $0.034. From that point, the price action would be 7% shy of the previous all-time high price.

NOT price has been ripping the charts apart as the Tap-to-Earn memecoin rises through the top 100 ranks. As of press time, NOT is ranked 58 on CoinGecko, rising 42 positions in the past 7 days. 

On the way up, NOT may experience some resistance around $0.032,  $0.043 and $0.057. Conversely, strong support may exist around the 50-day SMA ($0.019) and the 200-day SMA ($0.0123).

NOT Price  Future Outlook

As the Ton-based gaming coin aims for the moon, crypto analysts call the top for the asset’s price. Tryrex, a crypto trader on X, thinks that the Notcoin pump is over as the price made a blow-off top around $0.029. 

The pump on $NOT is now over
Price made a blow-off top at 0.0294, indicating the end of the uptrend.
I am looking for a possible short when price bounces a bit

I'll keep you updated. #Notcoin #NOT pic.twitter.com/Eh1mytsDtp

— Tryrex (@Tryrexcrypto) June 2, 2024

Notcoin launched around 2 weeks ago and immediately faced great selling pressure as many airdrop claimants ran to cash out. However, similar to the Celestia (TIA) airdrop, the developers introduced a new feature to the game, inciting a fresh interest among investors.

The NOT market cap has swelled to over $2.24 billion as volume skyrocketed 194% and hit $4.96 billion in the past 24 hours, signaling a rise in market activity. 

Bottom Line

As NOT price momentum cools off, bulls are eyeing an opportunity to break the previous all-time high, which is just a 26% move from the current price. The crypto community is now only realizing the potential of Notcoin and many are rushing to buy in.