Notcoin Price Drops 9.8% as Vanilla Finance Announces Partnership with Catizen
The Notcoin price has plunged by 9.8% in the last 24 hours to trade at $0.007478 as of 5:16 a.m. EST, on a 0.5% surge in trading volume to $152 million. The market cap is now at $774 million.
This price drop comes as Vanilla Finance announces a partnership with Catizen, a top Telegram game backed by Binance Labs, and the play-to-earn game Notcoin launched on Binance. The collaboration features referral systems and strategic initiatives aimed at enhancing both platforms.
Vanilla Finance stands out as the first exchange allowing users to own 1 Bitcoin for just $10 and will also be the first DeFi-related trading Mini App integrated into the Catizen Ecosystem. Furthermore, it will become the first Telegram trading Mini App to incorporate the CATI Token after its upcoming Token Generation Event (TGE).
Notcoin Statistics
- Notcoin price: $0.007478
- Market cap: $774 million
- Trading volume: $152 million
- Circulating supply: 102 billion
- Total supply: 102 billion
Notcoin Price Faces Resistance Within a Bearish Channel
The NOT/USD daily chart shows a clear downtrend as the price moves within a well-defined bearish channel. This channel is characterized by consistent lower highs and lower lows, indicating sustained selling pressure.
The price is currently trading near the lower boundary of the channel, which aligns with a significant support zone around $0.00700 to $0.00750. This support zone has been tested multiple times, suggesting strong buyer interest at this level.
Notcoin price is currently trading below the 50-day and 200-day simple moving averages (SMA). The Simple moving averages act as the key resistance level that resembles the probability of an ongoing bearish trend. As long as bears persist in pushing the price lower, they will leave the 50-day and the 200-day SMA with a large distance, further showing a high probability of the bearish trend continuing.
The Relative strength index (RSI) also strongly supports the probability of continuation of the bearish trend. The RSI seems to be dropping below the 30-midline level Solana price is more likely to form a new all-time low (ATL). This will indicate that the bears have taken over the Notcoin price.
Additionally, the moving average convergence divergence (MACD) further supports the probability of the bearish continuation. The red histogram bars are seen increasing in size and number as they also maintain their red bright color. On the other hand, the Orange signal line is seen to have already surpassed the blue line of MACD. This has symbolized the shift of Solana’s price from a bullish trend to a bearish trend.
Final Thought: Can the Bulls Regain Momentum?
If NOT, it can break and sustain above the $0.00772 level, and it may indicate the start of a consolidation phase or even a potential recovery. However, the falling RSI points to ongoing bearish pressure, and a further decline could drive prices down to the next major support at $0.00640.
On the upside, a rally toward the Pivot level at $0.00986 would suggest a recovery attempt, but the bulls would need substantial momentum to reclaim this level and challenge the resistance at $0.01200. Without strong buying interest, Notcoin faces the risk of further declines, making the current support levels critical in determining its next direction.
Learn More
- Next Cryptocurrency to Explode in September 2024
- Next 100x Crypto – 12 Promising Coins with Power to 100x
- Akash Network Price Prediction 2024 – 2040
- Solana Price Prediction: SOL Bulls Target $200 as Market Sentiment Strengthens
- Russia Aims to Start Crypto Payment Trials from September 1
- Ethereum Whale Moves Millions in ETH After 9 Years of Dormancy
- Tron Price Prediction: Why Tron Is Primed for a 400% Rally Short-Term
Charles Kibue
Charles Kibue is a cryptocurrency researcher and writer with published works on Crypto2Community and a range of other sites. He has also worked as a technical writer, researching NFTs and crypto projects. Charles is an English Literature graduate residing in Kenya. He possesses additional expertise in market analysis and offers accurate and reliable insights, staying up-to-date with the latest developments in the crypto industry. Beyond his professional pursuits, Charles enjoys hiking and horse riding in his leisure time.
View full profile ›ℹ️About Crypto2Community's Editorial Process
Crypto2Community's editorial policy is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict editorial policy and sourcing standards, and each page undergoes diligent review by our team of top crypto industry experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
