In the last 24 hours, Notcoin [NOT] has seen a 3.02% decrease in price, with the token now valued at $0.005802. The market capitalization has climbed to $594.42 million, marking a positive change from the previous day.
Despite the drop in price, the market has demonstrated resilience, even as trading volume dipped by 9.08% to $86.19 million.
These trading patterns indicate a moderate level of market interest, with a volume-to-market cap ratio of 14.49%. The fully diluted valuation (FDV) of NOT has held steady at $594.38 million, reflecting a strong belief in the coin’s long-term prospects.
With a total supply of 102.46 billion tokens, NOT is positioned for potential movements, but vigilance in market observation is advised.
Notcoin Set for Possible Breakout Amidst Low Volatility
Notcoin’s price has exhibited a consolidating trend, hovering around $0.005807 currently, signaling a potential breakout. Analysts have pointed out that the Bollinger Bands are narrowing, with upper and lower bands positioned at $0.0071 and $0.0054, correspondingly.
This compression typically signifies reduced volatility, which often precedes a notable price change, hinting at a potential breakout.
On the other hand, the Moving Average Convergence Divergence (MACD) indicator reflects a bearish stance. The MACD line stands below the signal line, while the negative histogram indicates a persistent downward trend.
A bullish reversal would necessitate the MACD line crossing above the signal line, along with a positive histogram shift toward the $0.0071 resistance level.
The Chaikin Money Flow (CMF) is currently at -0.06, indicating slight selling pressure in the market. With a CMF reading below zero, sellers seem to have a more substantial impact than buyers.
A rise in CMF above zero could signify a surge in buying momentum, potentially propelling a move toward the resistance level.
Significant Selling Pressure as Investors Encounter Losses
The global “In/Out of the Money” chart shows that most NOT holders find themselves “Out of the Money.” The majority of addresses hold NOT at higher price levels, primarily falling between $0.005920 and $0.017413, indicating many holders are facing unrealized losses.
Only a small fraction of addresses fall “in the money,” mostly owning NOT purchased between $0.002845 and $0.005382, suggesting limited profitability at current rates.
The long/short ratio chart reveals fluctuating interest in buying and selling, with sporadic spikes in selling volumes exceeding 50%. This ratio suggests that sellers at times surpass buyers, leading to alternating market control. This hints at a balanced sentiment, where sellers intermittently dominate but lack sustained momentum.
Bitcoin Poised for Rally as Falling Wedge Points to Upside Potential
Cryptocurrency analyst Ali Martinez has identified a bullish falling wedge pattern on NOT’s chart. This pattern could trigger a breakout targeting around $0.012, pending confirmation.
Traders and investors should closely follow technical indicators, as mounting buying pressure could fuel a significant price surge.
If buying pressure intensifies and technical indicators turn bullish, NOT may test its upper resistance levels. Nonetheless, if selling pressure prevails, the token might retrace towards its lower support at $0.0054.