Notcoin, the Telegram-based play-to-earn token, is once again under pressure. After showing signs of recovery, the token has shed nearly 7% in the past 24 hours, now trading at $0.001985. The trend remains majorly bearish with the market cap dipping to $197.24 million and volume spiking +17.64% to $30.24 million. This signals panic exits or speculative churn.
Fundamentally, Notcoin’s steep decline mirrors the broader collapse in tap-to-earn tokens like Hamster Kombat. Investors are increasingly questioning the sustainability of Social-Fi and Telegram-based tokens. And with the resistance mounting and signals turning neutral to negative, they are watching closely for signs of a deeper correction.
The 4-hour chart shared by me highlights that NOT price continues to hover around the psychological $0.002 mark. But faces constant rejection from the upper Bollinger Band and 20 SMA at $0.00210. The price failed to breach above the key resistance at $0.002135, This rejection has led to a retest of the $0.001880 support. Should this level break, the next major floor lies at $0.00175, which is also the July 5 swing low.
Talking about indicators, the RSI sits at 42.21, indicating a cooling momentum without reaching oversold territory. This leaves room for further decline before buyers feel incentivized to make positions again.
Successively, the spike in 24-hour volume to 15.2% of the market cap is unusual. While high volume typically suggests active interest, the turnover hints at abnormal trading activity, possibly driven by whales taking advantage of thinner order books.
The resistance for NOT stands at $0.002135, with immediate support at $0.001880 and major support at $0.00175.
NOT is facing technical rejection, sector-wide distrust in tap-to-earn models, and possible bot-led trading activity.
With weakening indicators and key supports under threat, cautious trading is advised until a clear reversal forms.
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