@The Notcoin Official Nears Critical Juncture as Support Weakens ☝️
👀 The $0.002 level for Notcoin $NOT is showing concerning fragility, with multiple technical signals suggesting potential downside risk in the near term.
💥Current Market Conditions
- Price action remains stuck near $0.002 with consecutive bearish candles
- Trading volume patterns indicate weakening buying interest.
- Increasing leverage on both sides raises volatility potential
🔑🔑 Key Technical Observations
1. Symmetrical Triangle Formation : The tightening price range typically precedes a significant breakout/breakdown
Current consolidation between $0.00193-$0.00206 becoming increasingly unstable
2. Liquidation Zones
Heavy liquidations clustered at:
- $0.00193 (downside)
- $0.00206 (upside)
These levels may act as short-term magnets for price movement
3. Momentum Indicators
- RSI showing neutral but declining readings
- EMA convergence suggesting loss of directional strength
🔥 Potential Scenarios
- Breakdown: Loss of $0.00193 could trigger accelerated selling
- Breakout: Clearance of $0.00210 needed to confirm bullish reversal
📊 Strategic Considerations
Traders should monitor:
- Order book depth at key levels
- Changes in funding rates
- BTC correlation effects
The current setup suggests Notcoin's stability may be more precarious than it appears, warranting cautious positioning until clearer direction emerges.
DYOR
