August 22
In real-time, the price $NOT has fallen by 0.841% over the day — this is not a very large drop, but it is still a decline. Changes over the last 7 and 30 days are more noticeable: -4.12% and -18.47%, respectively. Thus, the drop over 24 hours is part of a longer-term downward trend.
Several news articles indicate bearish technical signals. For example, an article from Cryptonewsland on August 9 notes that Notcoin$NOT is struggling around the $0.002 mark, with three consecutive red candles on the chart — this indicates a decrease in buying activity. Similarly, on TradingView from August 6, it is mentioned that there were repeated bounces from the resistance level of $0.002135 and subsequent testing of support at $0.001880. Technical indicators such as RSI and MACD show bearish signals, which may contribute to the price decline.
The overall sentiment in the crypto market also affects it. Over the past 24 hours, the market capitalization of cryptocurrencies has decreased by 0.73%. The fear and greed index is currently neutral but is declining from greed levels. The dominance of altcoins has fallen by 16% over the month, indicating that investors are moving away from altcoins, including Notcoin. This coincides with the user's question about the drop over the past 24 hours — Notcoin has likely suffered due to the overall market decline and reduced interest in altcoins.
The article from August 9 also mentions key liquidation zones at levels $0.00193 and $0.00206. As the price approaches these marks, liquidation of leveraged positions may occur, which will amplify the downward movement. High leverage in the market means that even small price fluctuations can lead to significant liquidations and additional pressure on the price.
Moreover, competition from projects like Tapzi and declining interest in tap-to-earn models are also putting pressure on Notcoin. The user base may shrink due to the emergence of new competitors, which reduces demand for NOT. It is also worth considering the state of the TON ecosystem, although there are rumors of a potential listing of NOT on Coinbase, which have not yet been confirmed.
The decline in Notcoin's price is the result of a combination of technical factors, overall market trends, leveraged liquidations, and specific sector issues such as competition and declining interest in tap-to-earn. All these reasons together explain why the price has fallen over the past 24 hours and continues to decline in the longer term. #NOT #Notcoin #Notcoin👀🔥