NOT Price Jumps 300% Last Week, Will Bulls Scale Another 100% Surge?

Despite the minor pullback in the top meme coins, the NOT token, the meme coin from Telegram, is making waves in the crypto world. With more than 2000% return within 20 days, the 300% jump in the NOT price last week reflects a huge demand fueling the bull run. 

Further, the altcoin segment shows a strong recovery trend with the rise in institutional demand and the rumours of ETFs. Will the NOT price bullish rally reach the $0.10 milestone this June?

Bullish Backup Pumps The NOT Token

With a streak of bullish candles in the four-hour chart, the NOT price showcases an exponential rise over the week. With the broader market run in the meme coin sector and the talks of Telegram IPO, the sentiments are positive around the meme coin. Hence, the uptrend in the NOT token is expected to make higher highs. 

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As per the trend-based Fibonacci levels of the early jump, the meme coin has surged to an unprecedented level of 3.618 at $0.029. However, with the higher price rejection due to bullish exhaustion, a correction is at play.

Currently, the NOT price trades at $0.020, dropping 13% in the last four hours and under the 2.618 Fibonacci level. Amidst the drop, the sideline traders anticipate the next buying opportunity at a crucial support level. 

Technical indicators: 

EMA Indicator: The correction at play approaches the 50 EMA in the 4H chart. 

Will NOT Price Regain Uptrend?

With the NOT price under 2.618 Fibonacci level, the downfall approaches the 1.618 level at $0.015. However, with the overall bullish sentiment with the 300% jump last week, the meme coin is set for a bullish revival. Therefore, as per the prevailing uptrend and the market recovery in action, it promises a bull run to $0.050. 

On the downside, a drop to $0.015 can be an excellent entry spot for the sideline traders.