Notcoin (NOT) has been on a steady decline since June, facing significant price declines. However, recent developments could signal a turning point for the cryptocurrency on the Telegram platform.
A notable 25% rally has rekindled hopes, giving NOT traders a much-needed boost. This upward movement could signal a change as positive sentiment is gradually spreading within the Notcoin community.
Notcoin Has Significant Support
Over the past month, Notcoin’s funding rate has remained consistently positive, reflecting an optimistic view from traders. Although NOT prices fell in October, traders remained steadfast in their positions as funding rates showed strong confidence. This persistence in the face of price decline shows that Notcoin enthusiasts are confident of a potential recovery, demonstrating long-term and steady support from the community.
This sustained optimism is a promising sign for NOT’s future. The positive funding rate, combined with recent price action, suggests that investors are confident in Notcoin’s upside. If this continues, it could provide the necessary stability for NOT to build on recent gains and overcome resistance levels.
Notcoin’s macro momentum is starting to show strength, supported by technical indicators like the Relative Strength Index (RSI). Currently, RSI is gaining positive momentum, suggesting buying interest is increasing. However, to maintain this growth, NOT needs to turn the neutral line at 50.0 on the RSI into support.
Reaching this support level on the RSI would signal continued strength, encouraging investor interest. For NOT to maintain its recent recovery, this level of momentum needs to be maintained. Without a solid foundation, Notcoin may struggle to retain its current gains, underscoring the importance of consistent growth metrics.
Price Prediction NOT: Recovery of Decline
Notcoin price jumped 25% in mid-day trading today, rebounding from recent support at $0.0057. This growth reflects increased buying pressure, and the altcoin is now attempting to continue its upward momentum in hopes of reaching higher prices.
The broader market’s bullish sentiment could help Notcoin progress, provided investors don’t rush to take profits too early. If successful, NOT’s aim is to turn the resistance at $0.0094 into support, strengthening its position and possibly making further gains.
However, Notcoin had previously struggled to close above the $0.0083 resistance level. Another failure above this level could be followed by a decline towards $0.0070. A decline below this level would invalidate the current bullish outlook, possibly pushing NOT back towards the recent support of $0.0057, signaling a reversion to the downside.