Notcoin (NOT) Turns Green Again: Can Bulls Build on the 8% Rise?

• Notcoin has gained over 8%, trading at $0.00042
• NOT’s trading volume has skyrocketed by 137%.

The market is attempting to make a recovery by handling a broader fear sentiment. A bunch of crypto tokens have flipped green, chasing the recent high ranges. Meanwhile, within the altcoin sector, Notcoin (NOT) has posted 8.61% surge in price, currently trading at $0.0004270.

Moreover, the asset’s lowest and highest trading levels were noted at $0.0003918 and $0.0004278, respectively. The market cap has likely reached $42.25 million, with NOT’s daily trading volume shooting up by over 137%, touching the $13.28 million level, as per CMC data. 

With the bullish momentum in the Notcoin market, the price could climb to the resistance at the $0.0004319 range. A continued move on the upside clearly triggers the golden cross to take place, and the bulls might gradually send the asset price higher, above $0.00044. 

On the flip side, if the bears showed up, the NOT price might slip and test the nearest $0.0004218 support zone. Steady and deep losses could invite the death cross to emerge, and the potent bears could take the asset’s price to its former low, established around $0.00041.

Notcoin’s Technical Indicator Analysis

On studying the technical indicators of Notcoin, the Moving Average Convergence Divergence line is placed above the signal line. This crossover suggests that the buying momentum is strengthening. Also, it may increase the chances of continued upward price movement. 

As long as the MACD line stays above the signal line, the bullish momentum is generally considered intact.

(Source: TradingView)

NOT’s daily Relative Strength Index (RSI) stands at 77.77, indicating that it has fallen in the overbought territory, reflecting very strong buying sentiment. The recent rally has been driven by aggressive buying. But with the value at this level, the chances of the trend moving sideways increase.

Even so, if buying demand remains strong, the uptrend can continue despite the elevated reading.

Furthermore, these signals suggest that the buyers are in control, which increases the likelihood of continued upward price action. At the same time, stretched momentum can lead to higher volatility, with short-term profit-taking becoming more likely after a strong rally.

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