Notcoin Price Prediction Hints 50% Rally Amid Bull Flag Breakout
Highlights
- The flag pattern breakouts set Notcoin for a potential upswing to $0.028 high.
- The formation of a new higher low hints at a change in market sentiment from selling on rallies to buying on dips.
- The intraday trading volume in Notcoin is $1.139 Billion, indicating a 30.7% gain.
Notcoin Price Prediction: The second week of June was quiet volatility for the crypto market as inverters witnessed pump-and-dump suitable amid the release of U.S. CPI data. However, a majority of major cryptocurrencies that influence Bitcoin and Ethereum showcased a lack of bullish momentum and stuck to their sideways action. Amid the uncertainty, Telegram-based clicker game Notcoin (NOT) emerged with notable gains reclaiming its value above $0.02 on Friday.
Also Read: Bitcoin Price Analysis: What’s Next For BTC As Crypto Fear And Greed Index Nosedives
Notcoin Rebounds Strongly with 40M Users Milestone and New Trading Pairs
After hitting an all-time high of $0.028 on June 2nd, the Notcoin entered a fresh correction amid broader market consolidation. With the Bitcoin price witnessing overhead supply at $71000, the NOT price plunged 49% to hit a low of $0.0149.
However, despite the heavy pullback Notcoin recently reached a milestone of 40 million activated users last Sunday. This figure excludes inflated numbers often seen in web analytics, emphasizing genuine user engagement and growth within its community.
Quick recap
Notcoin has 40M users total 🎉
These are the activated users from the database, not from web analytics tools that multiply # of users by their sessions and now show 500M Notcoin users lol pic.twitter.com/UUIp6oK0RA
— Notcoin Ø (@thenotcoin) June 9, 2024
Thus, the NOT price managed to form a local bottom at $0.0149 along with the support of a 50% Fibonacci retracement tool. Amid this healthy retracement, the NOT price showed the formation of a bullish continuation pattern called a flag.
In theory, the pattern is commonly spotted at major bullish rallies as it allows buyers to regain strength and push for higher growth. On June 12th, the NOT price gave a bullish breakout from the pattern’s overhead trendline signal, the continuation of the prevailing uptrend.
Also Read: Bitcoin Price Ready To Skyrocket After MicroStrategy’s $500M Move To Buy BTC
While the leading digital assets Bitcoin and Ethereum failed to sustain the Post-CPI data rally, the Notcoin price showed notable resilience as Binance also added support with new trading pairs.
The post-breakout rally has uplifted the asset by 18.85% to currently trade at $0.02, while the market cap boasted $2.06 Billion.
Under the influence of the bullish flag, the buyers could drive a rally above the $0.028 high and $0.034 barrier.
Technical Indicator
- Pivot Level: With the Notcoin projecting the possibility of entering price discovery mode, the traditional pivot level shows potential resistance at $0.034, followed by $0.038 and $0.042
- Average Directional Index: An uptick in the daily ADX slope at 14% accentuates the recent correction and assists buyers in recuperating bullish momentum.
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