Notcoin Struggles at $0.008462; Will NOT Knock Off a Zero?

Notcoin, a digital currency featured in a tap-to-earn game on Telegram, is presently battling to break past the $0.008462 resistance level, posing challenges for further price growth. According to TradingView’s data, the token surged by over 23% from a low of $0.007180, breaking past this barrier to a high of $0.008889.

However, upon reaching this high, the NOT token exhibited a modest pullback, dragging it below the critical $0.008462 hurdle again. Since then, the cryptocurrency has struggled to regain momentum and surpass this resistance level, casting doubt on its potential to knock off a zero anytime soon.

Notcoin Price Action

TradingView’s daily chart data shows that the cryptocurrency has been on a 4-day bullish streak, reflecting a solid upward momentum that facilitated the testing of a resistance, $0.008462, last seen on September 9. Historically, this resistance has proved formidable for the Notcoin token, causing its price to retreat below it upon touch.

However, market analysts forecast it might be a different scenario for the token this time, as positive indicators suggest a potential breakthrough in the near term. For instance, the directional movement indicator shows that the +DI at 22.8967 is trending above the -DI at 18.4647.

NOT/USD 1-Day Chat (Source: TradingView)

This indicates that the bulls have more control of the market than the bears, suggesting that the current trend could favor further upward movement. However, the average directional index reading of 22.7492 reveals that the strength of this trend remains relatively weak. While the bulls are currently in control, the lack of strong momentum could lead to a shift in market sentiment if conditions change.

Further supporting this positive outlook, the moving average convergence divergence has signaled a bullish crossover, with the MACD line trending above the signal line at -0.00026169. The growing size of the histogram bars above the zero line also suggests increasing bullish momentum in the market.

Will NOT Knock Off a Zero?

Following the recent resistance break, experts are buzzing with optimism that the Notcoin token might soon reach new heights, possibly erasing a zero from its current price. The key lies in a decisive close above the $0.008462 mark, which could serve as the catalyst for this upward move. A successful breach of this hurdle could see the token targeting the $0.01058 zone as its next milestone.

Sheldon the Sniper, a prominent market analyst, shared his insights on X, hinting that the Notcoin cryptocurrency is ready to join the bull run party. According to his charts, the altcoin has broken past a key trendline that kept its value suppressed for months. Consequently, Sheldon anticipates that this breakout could ignite a 57.55% rally toward $0.014 in the short term, with a potential for an even larger 126.44% surge to $0.018 if market conditions remain supportive.

$NOT looking like it wants to join the party pic.twitter.com/6zEOHyebIP

— Sheldon The Sniper (@Sheldon_Sniper) September 25, 2024

However, suppose the $0.008462 resistance proves as strong as its history suggests. In that case, the Notcoin cryptocurrency might face a temporary setback, pulling back to $0.007653 or even to $0.006903 for support. Such a retracement could provide a prime buying opportunity for investors eager to capitalize on the next wave of upward momentum.

As of press time, NOT exchanges hands at $0.008246, reflecting a 4.06% uptick over the past 24 hours, with a market cap of $845,043,748, placing it in the 78 spot in terms of market rankings.

Also Read: SEI Gains 22% in a Day, Eyes $0.60 After Breaking $0.4181 Barrier