Will Notcoin Continue The Strong Rise And Advance To New Highs?

• The fear and greed index of Notcoin is 73, indicating greed among the investors.
• Equal amounts of long/short liquidations were recorded on the NOT chart.

Notcoin is a Web3 onboarding tool that started as a viral Telegram game. Users earn the $NOT token by tapping, exploring Web3 products, playing games, and contributing to the ecosystem. Notcoin also allows web3 builders to offer products to the community.

The price of Notcoin (NOT) has declined 2.32% in the last 24 hours, while the value of its traded volume has advanced by 5%. The traded volume of the crypto is $1.151B at the press time.

Notcoin’s all-time low price was recently achieved on May 24, 2024, and the price has been consistently rising since then, advancing by 154%. When writing, the circulating supply of the crypto is 100% of its maximum supply.

The Notcoin is the 74th largest cryptocurrency in the global crypto market, with a market cap dominance of 0.05%. 

Derivatives Show a Strong Clash Between Bulls and Bears in Notcoin

The derivatives trading volume of the Notcoin crypto has advanced by 9% in the last 24 hours, while the open interest has witnessed a decline of 10.3%.

Despite the surge in volume, the decline in open interest shows that traders are closing their positions in crypto derivatives. 

The long and short liquidations recorded in Notcoin show a solid clash between the buyers and the sellers. That’s because the long/short ratio of the crypto is 1.0028.

The explained data is followed by a long liquidation of $3.25M against short liquidations of $3.31M.

NOT Crypto Price Technical Analysis

The price of the NOT crypto is trading in a strong uptrend, and it is consistently advancing to higher levels, following a rising wedge pattern on the hourly chart.

Following the lows of the rising wedge pattern, the NOT crypto price has advanced by 150%. It shows solid dominance of buyers in the crypto price. 

Also, strong support points can be seen at the lower levels. Thus, if the price witnesses profit booking, it might witness demand at $0.0052 and $0.00850 levels.

Also, the strong behavior of the crypto price is witnessed by an X handle, “@W3Vibes,” which shows that it is following a strong bullish momentum.

#Notcoin broke through $0.01 and is now trading above $0.012. $NOT looks very strong +130% in 3 days pic.twitter.com/8peBRvVerj

— Web3_Vibes (@W3Vibes) May 30, 2024

The technical indicators on the 1H timeframe of the NOT crypto also give a strong buy signal, and its price is trading above the key EMAs.

NOT/USD Chart by TradingView

The 50-day and the 200-day EMAs on the NOT crypto chart are trading in a golden crossover. The RSI has also been sustained above the 50 level, while  MACD metrics are trading above the zero level.

Summary

Notcoin is exhibiting strong bullish momentum, with a 150% rise from its recent all-time low.

Despite a slight recent decline, technical indicators suggest an upward continuation. The fear and greed index at 73 indicates strong investor interest, and the golden crossover of the EMAs further supports the bullish outlook.

If the NOT price continues to surge, the expected resistance levels for the crypto can be $0.013 and $0.0150.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.