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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Jul 16, 2024 09:46 UTC
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Here’s Why Notcoin (NOT) Is The Altcoin To Buy For 50% Price Jump!
NOT price registers a 7.94% intraday drop at press time.
The Notcoin price reverses from the critical resistance trendline.
A bullish breakout could boost the Notcoin price to $0.031.
With the crypto market witnessing a bullish reversal overnight, the altcoin segment offers bullish entry opportunities. Amidst the rising altcoins, the NOT price prediction teases a new breakout rally for a bullish rally ahead.
However, the intraday drop warns of a bullish failure if the overall trend momentum drops. Will the Notcoin price rally continue with a breakout run to surpass the $0.050 psychological milestone?
Notcoin Ready For Breakout Run?
With a market cap of $1.645 billion, the Notcoin (NOT) price trades at $0.01605 with an intraday drop of 7.27%. The intraday downfall comes after the 14.44% jump overnight to challenge the overhead trendline with an engulfing candle.
With a bull cycle from the $0.010 psychological support, Notcoin challenges the overhead supply for a breakout run. Despite the 70% in nine days, the NOT price struggled to overcome the supply pressure at the descending trendline.
Thus, the lower high trend continues, and Notcoin warns of a reversal rally to the psychological cushion at $0.010. However, a broader market recovery could result in a breakout rally in NOT price crossing above the trendline.
Technical indicators:
RSI: The daily RSI line crosses above the halfway line, reflecting a surge in underlying demand.
MACD: The merger of MACD and signal lines results in a bullish crossover and a rise in positive histograms.
Hence, the momentum indicators bolster the bulls and tease an uptrend continuation in Notcoin (NOT) price.
Will NOT Price Hit $0.050?
Despite a sideways shift in trend, the NOT price teases an inverted head and shoulder pattern with a neckline at $0.017. However, the recent rejection from the trendline warns of a bullish failure in Notcoin.
A breakout run can propel the altcoin price to $0.031 by the end of July. Optimistically, the uptrend can continue to reach $0.045 or the 1.618 Fib level.
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