Author: Sahana Vibhute
A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.
Jul 8, 2024 17:11
A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.
While the markets recover, Notcoin is among the top performers with a strong recovery after marking the bottoms below $0.01
The bulls have taken over the rally and hence the price is believed to reach the next interim resistance which may confirm a rise above the bearish influence
The crypto markets are recovering! Bitcoin price surged above $57,000! Altcoins are also gearing up to materialise a strong rebound! In the meantime, a popular altcoin, Notcoin has secured crucial resistance. However, a daily close above these levels is expected to push the NOT price towards higher targets in the coming days.
Will NOT price rally reach $0.02 this week?
The market sentiments have changed to a large extent and are expected to remain volatile in the coming days. Now that the bulls are reclaiming their dominance, the NOT price is expected to initiate a 25% upswing to reach the higher targets. The token dropped by nearly 30% since the start of the month and fulfilled the bearish pressure. Now that the price has initiated a strong rebound, a rise above $0.02 appears to be imminent.
Ever since the price marked the highs close to $0.03, the bears have held a strong influence over the rally. This compelled the token to remain consolidated within a descending triangle until the recent weekend which compelled the price to pierce down from the lower support zone. After a minor correction, the NOT price has reclaimed the support-turned-resistance zone which may pave the way for a fresh bullish price action as it has been happening since the start of the day.
The MACD remains bullish while the OBV or on-balance volume, rises above the vertical consolidation. This suggests the bulls are reclaiming their dominance, and after achieving 0.5 FIB at $0.013, the next target could be around 0.718 above $0.02. However, to validate this move, the Notcoin price is required to close above the 0.618 FIB at $0.01677, which could validate a fresh bullish upswing towards the higher targets.