Notcoin Price Holds at $0.01228 Support Level, How High Can NOT Reach This Month?

The Notcoin price has slipped 3% today, with the NOT/USD falling to $0.0127. The crypto market has lost about 3% in the past 24 hours. NOT has now fallen by 4.90% in a week and 8.8% in a month. Despite the recent drop, the token’s 24-hour trading volume has skyrocketed 43% to $200 million, suggesting intense market activity among traders and investors. 

Moreover, Notcoin will launch a game where users can play with Lost Dogs NFTs as characters and evolve by completing various tasks and making choices, per the Cointelegraph report. Meanwhile, traders and investors are optimistic about Notcoin, anticipating a 20% to 30% bullish wave.

#NOT Falling Wedge Formation in 4H Timeframe✅

When a breakout happens, we anticipate 20-30% Bullish wave📈
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— MR LARRY (@larrycryptrypto) August 1, 2024

Notcoin Statistical Data

Based on Coinmarketcap data:

• NOT price now – $0.0127
• NOT market cap – $1.30 billion 
• NOT total supply – 102 billion
• NOT circulating supply – 102 billion
• NOT ranking – #60

Notcoin Price Paints a Bearish Picture as Sellers Dominate the Market

The Notcoin price had a teary month in July as it dwindled downwards, trading within the confines of a falling channel. However, the bulls have gained strong support at around $0.01228, preventing further losses in the market. Meanwhile, the two moving averages have made a death cross at around $0.0147, painting the NOT market’s big picture bearish. A death cross occurs when the short-term average trends down and crosses the long-term average. Traders often interpret it as a long-term bear market. 

However, all hope is not lost, as the bulls have kickstarted the month in an attempt to initiate a rally. Let us dive into the technical outlook to decipher whether the bulls will recover the market or the sellers will capitalize on the death cross.

To start with, the NOT price trades below the 50-day (green) and 200-day (blue) Simple Moving Averages(SMAs). The $0.0135 and $0.0144 act as immediate resistance levels, suppressing the bulls against upward movement. Meanwhile, the Relative Strength Index (RSI) is below the 50-mean level, currently at 39. This suggests the sellers have the upper hand in the market, painting the token’s price bearish.

In the same way, the Moving Average Convergence Divergence (MACD) is hurtling in the negative area, suggesting a bearish sentiment. However, the momentum indicator has crossed above the signal line (orange), shifting the momentum from bearish to bullish. Additionally, the MACD is well positioned for an upward trend, hurtling towards the positive area above the neutral level (0.00). 

Will the Bulls Hit $0.05 This Month?

Despite the bearish picture in the 4-hour chart analysis, the bulls are poised to move upward, which may trigger a rally. They could overpower the bears if they capitalize on the MACD, which suggests a buy signal and stack up more NOT. In such a case, the price of Notcoin could rally past the technical barriers at $ $0.0135 and $0.0144. In a highly bullish case, they could flip the 50-day and 200-day SMAs into support, sending the NOT price to $0.05 this month.

Conversely, if the sellers continue dominating the market and capitalize on the death cross, the NOT price will plunge. This could see the RSI hurtle to the oversold zone, with the token breaching the $0.01228 support level. In such a scenario, the Notcoin price could retest the $0.0099 support recorded on July 6.