Notcoin is down 18% today after falling well below the $0.01 mark. Although the bulls are out of the market, the price is slowly bottoming out as the overall market outlook remains bearish on the daily chart.
Following this month’s recovery across the crypto space, Notcoin has not seen a major surge in the past few weeks as it entered a consolidation mode due to an extreme decrease in volatility.
Prior to this drop in volatility, the $0.013 mark was rejected for the second week before the landscape changed yesterday following a sharp drop below the $0.012 mark. After several failed attempts to rise above the rejected price mark, the price lost momentum again.
Now that the bears are back in the market, the price is weak as it is trending downwards on the daily chart. However, there is still hope for an uptrend if the monthly low remains stable.
Looking at the market from its inception in June, the price on the daily chart appears to be approaching an exhaustion point. A drop below the launch price could take us to a new low.
There is no room to buy at the moment. But we can expect a strong reaction if the price hits the $0.005 area – a key entry point for long-term buyers. A recovery from this area should trigger a significant trend reversal as the future looks promising for this gaming token.
NOT’s most important level to keep an eye on
In the recent declines, the price is now facing the support of $0.0085 – marked as a monthly low. Losing this support could result in a further decline to $0.0058 and possibly $0.005. Far below these price levels lies $0.00078 – the starting price level.
Currently, NOT’s resistance is at $0.012. If the price rises above this level again, the higher resistance to watch out for would be $0.018, followed by $0.0217.
Important resistance levels: $0.0129, $0.018, $0.0217
Important support levels: $0.0085, $0.0058, $0.0008
Spot price: 0.0093 USD
Trend: Bearish
Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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