Notcoin [NOT] has witnessed a significant uptrend in the past month. Following a peak of $0.0092, the altcoin experienced a notable drop to $0.0055.
However, in the recent days, NOT has shown a strong upward trajectory.
Currently, Notcoin is trading at $0.007473, reflecting a 13.98% increase within the past 24 hours. Moreover, the altcoin has recorded gains of 24.55% weekly and 2.0% monthly.
The surge in Notcoin’s price has been accompanied by a substantial rise in trading volume, which spiked by 297.52% to $522.11 million.
Analysts are paying close attention to the current market conditions. Crypto analyst Ali Martinez has hinted at a potential 76% price surge for NOT.
Market Analysis
Martinez’s analysis suggests that the breakout from the falling wedge pattern could propel NOT to reach $0.012, a level not seen since August.
Breaking out of a falling wedge pattern typically indicates a shift from a bearish to a bullish trend, signaling increased buying pressure.
The significant increase in trading volume adds weight to this analysis, suggesting heightened buyer interest and a strong upward momentum.
Notably, Notcoin’s Advance Decline Ratio (ADR) has maintained above 1 for the past six days, indicating buyer control and positive market sentiment.
Furthermore, the number of large transactions for Notcoin has surged by 833.3% over the last week, pointing towards active accumulation by large holders and whales.
The uptick in daily active addresses from 12.84k to 28.97k signifies a rally driven not only by large holders but also by strong fundamentals rather than mere speculation.
Future Prospects for NOT
With the positive market sentiment, breakout pattern, and strong buying interest, Notcoin appears primed for further upward movement.
If these conditions persist, there is a likelihood that NOT could target $0.0092 in the near future.