Notcoin Price Seems Bullish: Expecting A 2x Return After Breakout

• Notcoin price has just advanced the 20-day EMA, showing a bullish sign.
• It seems that the sellers below the 20-day EMA have been trapped.

Since May, the Notcoin price has performed bullish till the first week of June. It has faced resistance from the $0.0250 hurdle and tried to advance this mark for three consecutive days. However, it failed to sustain and showed weakness for the next few days.

NOT crypto price triggered a pullback and tried to gain bullish momentum, but sellers were strong enough to drag further below the 20-day EMA. The digital asset price has formed a hammer candlestick below the 20-day EMA, pushing the price by 13% in 2 days.

The Notcopin price traded near the key moving average per the technical indicators. RSI is 50, which has recovered from the oversold zone and has yet to positively intersect the RSI-based moving average.

Massive Gain After Breakout?

$NOT is on the verge of Massive Wedge upside Breakout..!!

Keep an eye on it.. #Crypto #NOT #NOTUSDT pic.twitter.com/xMigMpYQer

— Captain Faibik (@CryptoFaibik) June 27, 2024

Based on a source on X, the Notcoin price is at the crucial level of a breakout in a wedge pattern. A breakout from the falling wedge pattern may lead to a massive bullish momentum. The price is expected to approach the $0.0300 hurdle after a breakout with a rise in trading volume.

Volume Collapsed by 90%; What’s Next?

According to the given data, the trading volume has violently dropped by 90% since the beginning of June. Due to the negative volume change, the price has dropped by 40% this month. Suppose the trading volume surges; it may help in a breakout from the falling wedge pattern in a 4-H time frame.

Technical Analysis of Notcoin Price Over 1-D Timeframe

At the time of writing, the Notcoin price traded at $0.0157, which remained almost constant in an intraday session. The market capitalization is $1.61 Billion, and the 24-hour trading volume is $512.67 Million. Notcoin crypto has diluted its 100% of coins in the cryptocurrency market.

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Buyers might be attracted if the Notcoin price triggers a breakout from the trendline and sustains the $0.0200 mark. The involvement of investors may lift the price to a new all-time high.

On the other hand, if the digital asset price faces resistance from the trendline and forms a bearish candlestick, sellers may dominate. The NOT price below the $0.0140 mark may be a strong bearish sign, and the price may melt to the main support level of $0.00500.

Key Takeaways on Notcoin Price Trend

The Notcoin price has been exhibiting a complex pattern of bullish and bearish movements, with the potential for a significant breakout shortly. 

If the price breaks out from the falling wedge pattern and sustains above the $0.0200 mark, it could attract significant investor interest and lead to a potential new all-time high. 

However, if the price faces resistance and drops below the $0.0140 mark, it may indicate a strong bearish trend.

Technical Levels

Notcoin crypto price is expected to face resistance from the $0.0170 and $0.0250 mark. The price may take support at the $0.0140 and $0.00500 levels.

Disclaimer

This article is for informational purposes only and provides no 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.