Notcoin

when

Million

Billion

Rise

Notcoin (NOT) seems to be unaffected by the prevailing <a href="https://www.thecoinrepublic.com/2024/07/08/3-crypto-to-watch-out-for-this-week-egld-om-not/">market trend</a>. It’s nearly 70% up over the past 3 days. The performance looks insane, especially when lots of big altcoins are bleeding hard. 
NOT in market value climbed 15.04% and there was a 29.61% spike in trading volume in the last 24 hours, as per the Coinmarketcap. Its market value stands at $1.790 Billion, and its trading volume of spot amounts to $1.230 Billion at press time. 
In terms of market cap, it ranks 49th, where liquidity looks very high, as the volume to market cap ratio of the past 24 hours of activity stands at 69.93%. There are 102.491 Billion NOT in circulation. 
<h2 class="wp-block-heading" id="h-a-look-at-the-derivatives-chart-of-not">A Look at the Derivatives Chart of NOT</h2> 
NOT open interest stands at $211.06 Million. As per Coinglass, more contracts opened into the market, as it rose by 5.76% in the previous session.&nbsp; 
<figure class="wp-block-image size-large">
 <img fetchpriority="high" decoding="async" width="1024" height="683" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-1024x683.png" alt="NOT Futures Open Interest (USD) " class="wp-image-596448" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-1024x683.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-300x200.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-768x512.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-150x100.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-696x464.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1-1068x712.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTopeninterest-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 NOT Futures Open Interest (USD) | Source: Coinglass
 </figcaption>
</figure> 
While the long/short ratio of 24 hours stands at 0.9877, which illustrates that more shorts have been liquidated, that has been reflected on its daily chart. The short liquidation stands at $5.19 Million versus $3.74 Million for the long liquidation. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="683" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-1024x683.png" alt="NOT Total Liquidations Chart | Source: Coinglass" class="wp-image-596458" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-1024x683.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-300x200.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-768x512.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-150x100.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-696x464.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1-1068x712.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/NOTliquidations-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 NOT Total Liquidations Chart | Source: Coinglass
 </figcaption>
</figure> 
Looking at the past 3 days’ activity, the OI and shorts liquidations have surged 2x to $101.56 Million and $2.24 Million, respectively, on July 6th. Thus, it led the price to rise from $0.01022 to $0.01715 (at press time), and on intraday itself, the price saw a 19.10% surge. 
<h2 class="wp-block-heading" id="h-notcoin-price-analysis">Notcoin Price Analysis </h2> 
Notcoin broke out from a bullish pattern on the daily chart known as a falling wedge. It attained a bullish momentum in the last 3 days, which illustrates that buyers are trying their best and aim to capture lost territories back from the sellers. 
In the past structure, mainly from the swing high peak of $0.0290 by June 2nd, 2024, NOT began to witness profit booking on its daily chart, which led to a 65% correction in the crypto.  
<a href="https://in.tradingview.com/chart/NOTUSD/BKMGKzeq-In-the-last-couple-of-trading-session/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
In the last couple of trading sessions, the price rose by taking support at $0.0092. If the price continues to surge, it could reach the $0.0216 and $0.0265 hurdles. 
While failing to rise, it could drop to lower levels and end the pattern. 
The indicators highlighted the bullish perspectives as well. The price last traded above the 20-day and 50-day EMA bands. 
MACD has converged with the high anticipation of a bullish cross formation soon, and RSI has been recovering from oversold to overbought. 
<h3 class="wp-block-heading" id="h-where-is-not-price-headed">Where is NOT Price headed?</h3> 
Notcoin is defying the altcoin market downturn with a 70% price surge in 3 days. High trading volume and short squeezes suggest bullish momentum. 
The breakout from a falling wedge pattern indicates a potential trend reversal, but resistance awaits at $0.0216. 
The post <a href="https://www.thecoinrepublic.com/2024/07/08/notcoin-not-price-surges-70/">Notcoin (NOT) Price Surges 70% Against All Odds, Will It Rise More?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Notcoin (NOT) Price Surges 70% Against All Odds, Will It Rise More?

Table of Contents

Thecoinrepublic.com

Other articles published on Jul 8, 2024

BlockDAG’s Winning Streak: 12 Billion Coins Fly Off the Shelves, Cardano & The Graph Can’t Keep Up

Bitcoin Miner Capitulation Continues: Hash Ribbons Yet To Cross Back

Crypto Investment Sees Surge Among Young Adults, Predicts Massive Wealth Transfer

Best Meme Coin Presale in 2024: MoonBag is the True Gateway to a High ROI, Way Ahead of Cardano a...

Bitcoin to Surge 400% as Trader Eyes Long-Term Gains Despite Short-Term Pain

Crypto: SEC on the Verge of Approving Ethereum ETFs

Join our free newsletter for daily crypto updates!