$NOT has experienced a modest price increase of 4.522% in the last 24 hours, testing the resistance level at 0.002737. However, it remains entrenched in an overall downtrend, suggesting that this uptick may be short-lived. The Bollinger Bands indicate volatility constraints, with the upper band at 0.002711 and the lower band at 0.002532, signaling a potential breakout point. Despite Bitcoin's undefined influence, it’s critical to monitor for macroeconomic factors, such as regulatory news and inflation data, which can impact market sentiment. Given the current volatility, a short-term trading strategy appears prudent, allowing traders to capitalize on price fluctuations while remaining cautious of downside risks. Key takeaway: Be wary of potential price retractions despite recent gains and plan entry points carefully.
