Notcoin

NOTCOIN INU

Despite the current bearish pressure on Notcoin’s price, the rising money flow hints at a potential buying opportunity. The decrease in speculative activity along with the current price trend suggests that Notcoin might reverse its direction and start moving up towards $0.016.<h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/27e4c3cc52bf469289c4a42954242eb4.png" />However, since it’s trading below the Ichimoku Cloud, any potential breakout could face significant hurdles. Notcoin (NOT), which started as a Telegram-based tap-to-earn coin, previously outperformed major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). However, in the past 30 days, it has struggled to keep up the momentum, with its price dropping to $0.013, reflecting a 27.17% decline over the last month.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/3bb6b7021d664f699178bc3afe60e924.png" /><h3 id="notcoin-shows-bullish-divergence-amid-price-drop">Notcoin Shows Bullish Divergence Amid Price Drop</h3>The 4-hour NOT/USD chart reveals that Notcoin hit an oversold level on July 1. The Money Flow Index (MFI), a technical tool used to gauge trading pressure by measuring price and volume changes, indicated this condition. A rising MFI suggests buying pressure, while a falling MFI points to selling pressure. Readings below 20.000 are considered oversold, and those above 80 indicate overbought conditions.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/02e44f985d3b45b594d6935735814ce9.webp" />Notcoin 4-Hour Analysis. Source: <a href="https://www.tradingview.com/x/nobS2myW/" rel="noopener noreferrer nofollow">TradingView</a>On July 1, the MFI was at 17.42, signaling that Notcoin was oversold. Currently, the MFI stands at 63.31, even though NOT’s price has dropped by 4.88% in the past 24 hours. This situation is known as a bullish divergence. It occurs when price lows are accompanied by increasing capital flow, suggesting that selling pressure is easing and buyers are taking advantage of lower prices.<h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/27e4c3cc52bf469289c4a42954242eb4.png" />Historically, a similar bullish divergence was seen between June 11 and 16, when <a href="https://cryptosheadlines.com/notcoin-not-price-surges-20-can-ton-based-coin-turn-things-around/" rel="noopener noreferrer nofollow">Notcoin’s price surged</a> from $0.014 to $0.020 in under a week. Although this does not guarantee the same outcome, it does hint at the possibility of a significant price increase. If this bullish trend continues, Notcoin could potentially rise to $0.016 within the next five days.<a href="https://cryptosheadlines.com/justin-sun-wins-landmark-case-in-china/" rel="noopener noreferrer nofollow">Also Read: Justin Sun Wins Landmark Case in China</a><h3 id="notcoin-s-open-interest-and-ichimoku-cloud-analysis">Notcoin’s Open Interest and Ichimoku Cloud Analysis</h3>In the past, <a href="https://cryptosheadlines.com/shiba-inu-open-interest-crosses-100m-raises-bitcoin-concerns/" rel="noopener noreferrer nofollow">Open Interest</a> (OI) has played a crucial role in supporting Notcoin’s uptrend. OI measures the level of speculative activity in the market, with increases indicating higher liquidity in the derivatives market and decreases signaling more closed positions. Currently, Notcoin’s Open Interest stands at $143.08 million, down from $163.60 million six days ago. This decline represents a closure of contracts worth $20 million.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/3bb6b7021d664f699178bc3afe60e924.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/fda98575cd68420da9db0b17d3313a17.webp" />Notcoin Open Interest. Source: <a href="https://app.santiment.net/charts/rr8_XM0-__sCl" rel="noopener noreferrer nofollow">Santiment</a>This reduction in Open Interest suggests a weakening downtrend, which aligns with the <a href="https://cryptosheadlines.com/leading-analyst-identifies-significant-bullish-signal-for-bitcoin/" rel="noopener noreferrer nofollow">bullish signals</a> from the Money Flow Index (MFI). For Notcoin’s price to reverse and reach $0.016, additional inflows into the derivatives market would be necessary.However, the Ichimoku Cloud, a technical tool used to assess momentum and trend direction, presents a challenge. Since the Ichimoku Cloud is positioned above Notcoin’s current price, it indicates that the cryptocurrency may <a href="https://cryptosheadlines.com/xrp-surges-shib-faces-resistance-eth-shows-strength/" rel="noopener noreferrer nofollow">face resistance</a> as it tries to recover from recent losses. If Notcoin manages to overcome this resistance, its <a href="https://cryptosheadlines.com/binance-boosts-support-for-pepe-and-floki-potential-price-rally-ahead/" rel="noopener noreferrer nofollow">price could potentially</a> rise to $0.016 or even $0.018 in the short term. Conversely, if bearish trends persist and Open Interest continues to decline, the price might fall to $0.011.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/44152bab28e447f98282bf7713f3bdf6.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Notcoin (NOT) Shows Bullish Divergence but Faces Challenges

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Alte articole publicate pe 2 iul. 2024

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