Notcoin (NOT) Analysis: Should You Buy It Now?

Listed on the Binance exchange on 16 May, Notcoin(NOT) entered Coinpedia markets Top 100 crypto-list with marketcap surging to over $927 million. In no time this cryptocurrency caught investors’ attention with increased news and social media activity. NOT has been performing parallelly to meme coins.

One side of the trend expects the coin to hit the $1 mark, and the other is still uncertain about this volatile cryptocurrency Notcoin. Is it the right time to buy this coin or wait for corrections? Let’s find out. 

What Do Technichals Have To Say About NotCoin? 

Since there is not much data to analyze in the chart, the current price action follows an uptrend upward channel pattern. On launch, the NOT price surged to $0.037 and corrected to the current price of $0.009 with a weekly surge of  68.5%. 

The price rejected $0.010, which is also identified as the key resistance, investors must wait for the Notcoin to break above this. 

Crucial support zones are found at $0.004800 and $0.005100, on reaching this area it indicates a good buying opportunity, 

The 1hr Chart reveals increased selling pressure as per the ‘On balance Volume (OBV)’ indicator This indicator shows the direction of selling and buying pressure. 

Will Notcoin go to $1?

Looking at the real-time use case of Notcoin, being a rewarding asset to players of Telegram Tap to earn game, NOT will gear up from the short correction and may rally to a high near $0.2. 

Going beyond that will need a sheer amount of social attention and a spike in several game players on the Telegram app. In the present scene, investors should watch the lower support zones $0.004800 and $0.005100 and the higher resistance of $0.1 level to decide to enter.