The value of Notcoin has decreased by more than 8%, currently trading at a price of $0.0019.#اقتصاد_لامركز #اخبار_العملات #wct $SD
The daily trading volume of Notcoin has risen by 18%.
Attempts to revive the cryptocurrency market have failed, as all major assets have declined. Notably, the largest, Bitcoin (BTC), has dropped to the range of $113.8 thousand. Meanwhile, the price of Ethereum (ETH), the largest altcoin, hovers around $3.6 thousand, causing altcoins to relinquish their recent gains in price movement.
Within the altcoin sector, Notcoin (NOT) has emerged as one of the trending coins, recording a price loss of 8.07% due to bearish pressure. In the early trading hours, Notcoin's price was trading at its highest level at $0.002132, with bullish candles. Later, bears took control of the asset and reduced its price to a low of $0.00195.
At the time of writing this report, Notcoin's price was trading at $0.001969, according to CoinMarketCap data. The market capitalization reached $197.21 million, with Notcoin's daily trading volume increasing by more than 18.47%, likely to touch the level of $30.35 million.
After that, Notcoin's price may retrace and test the nearest support level at $0.001963. Further losses could lead to the formation of a death cross. Bears may push the price toward its previous low of around $0.001957. Assuming that the bulls for Notcoin have gained momentum, the price may immediately rise to the resistance level at the range of $0.001975. Continued gains could lead to a golden cross and push the asset's price above $0.001981.
Technical indicators for Notcoin stock: Is it in a bearish grip?
Analyzing the technical indicators for Notcoin stock, we find that the Moving Average Convergence Divergence (MACD) line is below, and the signal line is above the zero line. This crossover indicates overall bearish momentum. If the MACD rises to the zero line, it may indicate a reversal in the upward trend, according to TradingView.
NOT chart (Source: TradingView)
Moreover, the Chaikin Money Flow (CMF) indicator for the asset is -0.21, indicating selling pressure in the market. Capital is flowing out of the asset rather than into it. Further decline in value indicates a strong bearish trend, and the price may continue to face downward pressure unless a reversal occurs.
NOT chart (Source: TradingView)
The daily Relative Strength Index (RSI) for Notcoin is at 37.20, indicating a bearish zone, and it may reach the oversold area. Weak momentum could reverse if buying pressure increases. Furthermore, the reading of the Bull Bear Power (BBP) indicator for the asset at -0.000184 indicates that bears currently have slight control over the market.