### Notcoin (NOT) Technical Analysis and Potential Trends
Notcoin (NOT) has established distinct support and resistance zones, marking critical levels in its price movements. Recently, Notcoin has broken through its support zone and the lower boundary of its descending channel, suggesting the potential for further price decline.
If the price manages to surpass the top of the trading range and the downtrend channel line, there might be a significant upward movement. However, should the price continue to drop, the next target levels are based on two specific Fibonacci retracement levels.
After hitting these Fibonacci targets, a head and shoulders pattern could emerge on the 1-hour timeframe. The formation of the right shoulder, often identified as a higher low, would serve as a confirmation for a major trend reversal.
In summary, while Notcoin is currently experiencing a downward trend, key technical indicators suggest the possibility of a trend reversal, provided certain conditions are met. Investors should closely monitor these support and resistance levels, as well as the formation of the head and shoulders pattern, to make informed decisions.