Notcoin Price Prediction: Market Rebounds Strongly, Is $1 the Next Stop?

Notcoin Price Prediction: NOT, a Telegram-based cryptocurrency, has seen a significant gain of 6% over the past day following the market rebound. The altcoin hovers above $0.015, indicating a strong upward trend in its trading patterns. 

As of this writing, Notcoin price is $0.0158, surging 22% during European trading hours.

According to CoinMarketCap data, Notcoin’s current market capitalization is $1.6 billion. Notably, Notcoin’s trading volume has also increased, now reaching $1 billion, underscoring a vibrant trading activity among investors. 

Notcoin has witnessed an 11% increase in its value, showcasing robust investor confidence. The cryptocurrency ranged between $0.009 and $0.0165 over the past week, indicating notable market volatility. As of July 5, Notcoin’s price escalated from $0.0091, reaching an intraday high of $0.01633 today. 

Notcoin Price Prediction: Potential for Major Gains as Market Shows Strength

Data from Coinglass reveals that Notcoin’s total open interest surged dramatically by 90% in just three days. Notcoin price rose from $101.56 million on July 6 to $192 million on July 8. Such a rapid escalation in open interest typically precedes significant price fluctuations due to increased liquidations.

Further insights from Coinglass disclose that Notcoin’s aggregated funding rate hit 0.22% in the last 24 hours. This surge highlights a predominant increase in long trading positions, pointing to a bullish sentiment among traders.

Could NOT price Break $0.016 Resistance on Current Uptrend

Notcoin is currently showing signs of a robust recovery, potentially signaling the onset of a bullish trend. Notcoin could break through the $0.016 resistance barrier if this momentum continues. This upward move propels its price towards $0.02 and could reach as high as $0.1 in the near future.

On the flip side, if the market sentiment deteriorates, Notcoin might stabilize around the $0.015 support level. In a sustained bearish phase, the price might drop to about $0.014. These fluctuations highlight the inherent volatility within the cryptocurrency market.

Technical Indicators Point to Sustained Growth

The 4-hour technical indicators for Notcoin (NOT) show a recent rebound after a continuous downward trend. The Relative Strength Index (RSI) indicates a value of 63.20, moving above the neutral 50 level, suggesting a growing bullish momentum. The RSI’s recent rise from a low of 69 points towards increasing buyer interest.

The Moving Average Convergence Divergence (MACD) has begun to show promising signs of a bullish crossover. The MACD line (blue) has moved above the signal line (orange), signaling a potential upward movement in price. The histogram also supports this outlook, transitioning from negative to positive bars, indicating a shift in momentum toward the buyers.

The Average Directional Index (ADX) remains high at 46, indicating a strong trend in the market. Meanwhile, the Awesome Oscillator (AO) displays a transition from red to green bars, suggesting a potential shift in momentum from bearish to bullish.