Notcoin (NOT) at a Crossroads: Will the Price Rebound or Extend the Downside Risk?

• Notcoin has plunged over 3%, trading at $0.00037.
• NOT’s daily trading volume has reached $8.23 million.

The 3.24% loss has pulled the crypto assets back to their recent lows. With the red charts hovering across the market, the dominant asset, Bitcoin (BTC), has slipped to the $70K mark. Turning attention toward the altcoin sector, Notcoin (NOT) has plunged by 3.5% in value over the last 24 hours.

The asset’s highest and lowest trading level is noted between $0.0003687 and $0.0003891, respectively. At the time of writing, Notcoin traded within the $0.0003737 range. In addition, the daily trading volume of NOT has dropped toward the $8.23 million mark, according to CMC data. 

With the brief bullish momentum, the Notcoin price might rise to test the key resistance at around $0.0003759. More gains could invite the golden cross to emerge, and the bulls would likely send the price to its former high above $0.0003781. 

If Notcoin bears reclaim the lost ground, the price could retrace instantly to the $0.0003715 support range. A continued correction on the downside triggers the formation of the death cross. Gradually, the asset’s price might fall deeply below $0.0003693. 

Will Notcoin’s Technical Indicators Turn Fully Bullish?

Notcoin’s Moving Average Convergence Divergence line is slightly above the signal line, it likely displays an early bullish force. It is close to neutral, and the trend direction is not confirmed yet. If the MACD moves above, the bullish outlook gets stronger, and a reversal would erase the gains. 

NOT chart (Source: TradingView)

Moreover, the Chaikin Money Flow (CMF) indicator of NOT located at 0.20 demonstrates strong buying pressure, with noticeable capital inflows. Accumulation is taking place, with the buyers supporting the price movement. It also reflects healthy market sentiment and sustained demand.

The daily Relative Strength Index (RSI) at 51.30 indicates neutral to slightly bullish momentum. The buying pressure is slightly stronger than the selling pressure, with the Notcoin market relatively balanced, with no strong trend yet. Remarkably, a rise to 60 might strengthen the bullish momentum. 

Furthermore, the Bull Bear Power (BBP) reading stationed at 0.000002 suggests almost a neutral momentum for NOT. As it is extremely close to zero, buyers and sellers are nearly balanced, with no clear dominance. Significantly, this positioning likely reflects a move sideways in the market.

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