Altcoins
Here’s Why Notcoin (NOT) Is The Altcoin To Buy For A 50% Price Increase!
As the cryptocurrency market sees a bullish reversal overnight, the altcoin segment offers bullish entry opportunities. Among the rising altcoins, the NO price prediction teases a new breakout rally for an upcoming bullish rally.
However, the intraday decline warns of a bullish failure if the momentum of the overall trend wanes. Will the Notcoin price rally continue with a breakout above the psychological $0.050 mark?
Notcoin ready for a breakout?
With a market cap of $1.645 billion, Notcoin (NOT) price is trading at $0.01605 with an intraday decline of 7.27%. The intraday drop comes after the 14.44% surge overnight to challenge the overhead trendline with an engulfing candle.
With a bullish cycle from the psychological support of $0.010, Notcoin is challenging the overhead supply for a breakout run. Despite the 70% in nine days, NOT price has struggled to overcome the supply pressure at the descending trendline.
Thus, the downtrend continues and Notcoin warns of a reversal rally towards the psychological cushion at $0.010. However, a broader market recovery could result in a breakout rally in NOT price above the trendline.
Technical indicators:
RSI:The daily RSI line crosses the midline, reflecting an increase in underlying demand.
MACD:The merger of the MACD and signal lines results in a bullish crossover and a rise in positive histograms.
Therefore, momentum indicators support the bulls and suggest a continuation of the Notcoin (NOT) price uptrend.
Won’t the price reach $0.050?
Despite a sideways trend change, NOT price is teasing an inverse head and shoulders pattern with a neckline at $0.017. However, the recent rejection from the trendline warns of a bullish failure for Notcoin.
A breakout could propel the altcoin price to $0.031 by the end of July. On the optimistic side, the uptrend could continue to reach $0.045 or the 1.618 Fibonacci level.