Notcoin

The market has been quite chaotic over the last couple of weeks. Bitcoin (BTC) fell by 23% but has been gaining positions during the last week. As always, Bitcoin is the driver of the crypto space; once it moves, we can expect the rest of the coins to start gaining momentum.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5fd206f416a54427a52b5ca8c3e980a7.png" />The exceptions, as always, are new projects. The launch of Notcoin, a tokenized equivalent of game points that people were collecting on a Telegram game, was eagerly awaited by more than 5 million people. However, as we can see in the graphic, it followed a typical pattern for new projects: a huge spike followed by a sell-off. This is when market makers primarily generate revenue. After this initial phase, we typically see a steady decline in price as market makers consolidate their positions before the next possible move. We can expect the price to drop to around 0.0035. It’s likely we will see frequent pumps and dumps with this asset.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/260cbbb2931247648392b2c3997a9ef1.png" />For those looking for a more stable but steadily growing portfolio, I would suggest focusing on Layer 1 (L1) and Layer 2 (L2) tokens, as their potential to rise is quite significant over the next couple of weeks, assuming Bitcoin continues its climb towards all-time highs.Now, let&#39;s review some potential tokens that are consolidating at the bottom and have not yet started their upward movement. Here are a few interesting options: Arbitrum, Aptos, Sui, and Vara. We can see that the tokens of all these projects have reached support levels and are now rebounding. But which one of them has the most potential?Please note, this is not investment advice. I am merely analyzing the information the graphics provide.<a href="https://arbitrum.io/" rel="noopener noreferrer nofollow">Arbitrum</a>ARB dropped 60.66% from the local high when this correction started. We can see it had a false breakout with two candles, but there was no impulse, and it is once more consolidating near the level of 0.8981. If there is no rebound in the next two days, it is highly likely we will see ARB’s price drop to 0.7705.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b771b01bdfd2454193b2234d43fecdef.png" /><a href="https://aptoslabs.com/" rel="noopener noreferrer nofollow">Aptos</a>APT dropped 62% during this correction. It is highly likely that we will still see it go down to 7.3, with a significant possibility of a false breakout. Thus, in the next couple of days, a downtrend is highly probable, with consolidation around the level of 7.34, including a false breakout towards the level of 6.78.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/331c25a4c26e4bcdaf2a93d45781d9bf.png" /><a href="https://sui.io/" rel="noopener noreferrer nofollow">Sui</a>SUI experienced a drop close to 60%, similar to its peers, but managed to stop at 59.37%. It had a nice rebound at the level of 0.8856 and is showing good bullish signals. This token is definitely worth watching.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/1fe180ae0151443fa6f0f9e02a17b394.png" />Vara networkVARA proved to be one of the strongest tokens among its peers, dropping just 51.26%. It is consolidating around 0.07753, and as we can see, we can expect a rebound towards the level of 0.099 over the next couple of days. Vara has shown strong impulse movements and a steadier downtrend. So, while this is not investment advice, this token should definitely be on our watch list.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6bb71224895546189497935578f00de7.png" />In conclusion, I would closely monitor VARA, as it has significant potential and appears to be underestimated by the market for now. SUI also looks promising with its rising possibilities.

Miss the Notcoin pump? Better focus on L1 tokens!

Crypto Intelligence

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