After a retracement from its previous, Notcoin (NOT) has been exhibiting strong bullish momentum that has drawn the interest of both traders and investors. This ongoing upward trend indicates a robust level of market confidence and increasing optimism over its prospects.
Market analysts are keeping a careful eye on important indicators and trends as the cryptocurrency rises in order to predict how long this bullish period may remain and what possible heights it may reach.
Using a few technical indicators, we will examine Notcoin’s price possibilities in this article focusing on the 1-hour and the 4-hour timeframe.
Notcoin’s price was up by 20% as of the time of writing, trading at approximately $0.025, with a market capitalization of over $2.3 billion and a 24-hour trading volume of over $4.4 billion. In the past day, there has been a 16.33% increase in market capitalization and a 106.31% increase in trading volume.
Indicators And A Technical Perspective On Notcoin Price
Notcoin is currently trading above the 100-day Simple Moving Average (SMA) and remains actively positive in the 1-hour time frame. This suggests that the price is still bullish and that there is still room for price growth.
The 1-hour Moving Average Convergence Divergence (MACD) also signals that Notcoin might move bullishly as the MACD histograms are trending above the MACD zero line. In addition, the MACD line and the MACD signal line have crossed each other and are currently trending above the zero line with a good spread between them, suggesting that the price of Notcoin might still move upward.
In the 4-hour time frame, it can be observed that NOT, after making a pullback, is attempting another upward bullish rally as it has dropped a bullish candlestick in the last 4 hours.
Additionally, the 4-hour MACD displays a bullish signal as the MACD line and the MACD signal line are still highly active above the zero line, and the MACD histograms attempt to rise higher above the zero line. This development suggests that Notcoin is poised for more growth.
Future Prospects For The Meme Coin
It is worth noting that Notcoin has managed to create a high of $0.029405 and lows of $0.018863, and $0.011381, which are significant milestones in evaluating its price next destination based on its past price action. If Notcoin continues to move upward to the resistance level of $0.029405 and breaks above it, it therefore means that it will move higher to create a new high.
However, Notcoin’s price will start to descend in the direction of the $0.018863 support level if it is unable to break above this resistance level. The price may move much farther to test the $0.011381 level and possibly other levels on the chart if it breaks below this support level.
Featured image from Binance, chart from Tradingview.com