Notcoin

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Spot

Notcoin has been on a consistent downtrend since it dropped from a critical psychological support level in late August. 
The bearish phase for Notcoin (<a href="https://crypto.news/price/notcoin/" target="_blank">NOT</a>) began on Aug. 24, when it fell below the crucial $0.01 support. The following day, NOT further plunged beneath the Fibonacci Pivot support at $0.00986, cementing its position in bearish territory. 
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 <img loading="lazy" decoding="async" width="1162" height="681" src="https://crypto.news/app/uploads/2024/09/Notcoin-1D-Chart.png" alt="Notcoin down 34% in 10 days, can the bulls trigger a reversal? - 28" class="wp-image-14295860">
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 NOT 1D chart – Sept. 4 | Source: <a href="https://crypto.news/price/notcoin/" target="_blank">crypto.news</a>
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</figure> 
Meanwhile, the market’s outlook for the asset worsened on Aug. 26, coinciding with <a href="https://crypto.news/pavel-durovs-arrest-france-toncoin-plunges-20-percent/" target="_blank">reports</a> of Telegram founder Pavel Durov’s arrest. The news of Durov’s detention triggered a sharp 12.47% drop, the steepest since Aug. 7.&nbsp; 
Following this, Notcoin entered a period of consolidation, with prices stabilizing briefly. However, September has seen a resurgence of <a href="https://crypto.news/bearish-september-brought-155m-in-cryptocurrency-liquidations/" target="_blank">bearish</a> sentiment across the broader crypto market, exacerbating NOT’s bearish situation.&nbsp; 
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Currently, Notcoin is trading at $0.00754, marking a four-month low. This shows a 34% decline from its Aug. 24 price of $0.01142.&nbsp; 
Moreover, the asset’s daily Relative Strength Index has fallen steadily, now sitting at 32, suggesting that Notcoin is slightly oversold. Further sharp price declines could trigger a drop below 30, pushing Notcoin deep into oversold territories. 
If NOT manages to break and hold above the $0.00772 level, it could signal the beginning of a consolidation phase or even a potential recovery.&nbsp; 
However, the declining RSI suggests continued <a rel="" href="https://crypto.news/bitcoin-may-find-54k-support-during-bearish-september-qcp/">bearish</a> pressure, and further push below this territory could lead to further losses, with the next significant support at $0.00640. 
On the upside, a rebound toward the Pivot level at $0.00986 could signify a recovery attempt. However, the bulls would need significant momentum to reclaim this level and challenge the resistance at $0.01200.&nbsp; 
However, without strong buying interest, Notcoin risks deeper losses, making the current support levels crucial in determining its next move. 
 Read more: <a rel="" href="https://crypto.news/ethereum-activity-hit-aths-as-fees-plunge-99/"> Ethereum activity hit ATHs as fees plunge 99% </a>

Notcoin down 34% in 10 days, can the bulls trigger a reversal?

crypto.news

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