The start of the Notcoin trade was very exciting, as prices recorded a single-day rise of over 600%. While a massive correction of more than 60% was expected, the token further initiated another 500% rise to secure a new ATH at $0.028, which attracted huge attention among the market participants. This move pushed the NOT price within a deep bearish range, which extracted another 50% of its value. The latest rebound has revived bullish hopes but, at the same time, displays the possibility of forming another lower high.
The NOT price is experiencing some resistance around $0.0145 and $0.015, and hence, it is required to clear the upper resistance to initiate a fresh ascending trend. However, the token has formed a strong base around the $0.013 to $0.014 range and hence a strong upswing movement could be fast approaching. Will these technical aspects elevate the NOT price beyond $0.02?
The long-term trade is bullish but the STF displays a small possibility of a pullback, which could occur in the next few hours. The price has been trying to break above the upper resistance of the channel but the buyers lack strength as they reach these levels, which causes rejection. A similar action may be expected but the local support at $0.014 may offer the base to trigger a healthy rebound. Besides, the MACD remains within the negative range regardless of mounting buying pressure.
Once these levels rise within the positive zone, the bulls are expected to take over and revive a fresh ascending trend. Until then, the NOT price is expected to remain consolidated between the upper and middle bands of the channel.
Alongside this, the Notcoin platform was also deeply impacted by the recent upgrade in its tokenomics. As per community reports, nearly 210 million tokens have been burned, which is another reason for the latest 15% rise. However, the markets are largely dependent on the Bitcoin price rally and if the star token displays some stability, the altcoins may display some bullish momentum.
In such a case, reaching $0.02 may not be a tedious job for the Notcoin (NOT) price but achieving a new ATH above $0.03 could be the real target.
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