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Notcoin (NOT) price over the past 24 hours showed some bullish vigor to suggest further gains. The cryptocurrency has held up pretty well after a dip and conceivably points toward an uptrend. Speculation is rife on whether it can print a new all-time high (ATH). As of press time, NOT was trading at $0.01855, a 3.80% surge from the intra-day low.
Notcoin is looking to kick off this new week with some positive vibes, even after the recent bearish pressure that hit the market. The cryptocurrency continued to trade at a meager pace this weekend. Nonetheless, strength was gained within Notcoin that stabilizes and hints at an upswing.
The falling wedge, which is typically bullish, has held the token within this pattern, and now it is getting very close to the line of resistance, with an indication that a breakout might be near.
However, technical indicators do not seem that clear. The Ichimoku cloud continues to provide a bearish outlook, with the stochastic RSI having moved closer to the upper resistance, which might suggest a short-term pullback is in the cards. In such a move, the price may fall to the support of around $0.016 on the lower side. On the other hand, the MACD now indicates that it will likely give a bullish crossover with an implication of a new uptrend in the making shortly.
Notcoin's recent price activity gave credence to the formation of higher highs and higher lows, typical of a robustly bullish trend. The price is often testing and overcomes the upper Bollinger Band, meaning high pressure from buyers.
After this ascending tendency, Notcoin went through a bearish one, with a lower high and a lower low, indicating a higher selling pressure. In between, sometimes, the price went below the lower Bollinger Band, signaling oversold.
Most recently, Notcoin entered a consolidation where price swings decreased and candlesticks formed in and around the middle Bollinger Band, which indicates less variation in market prices. Such a period of calm might act as a prelude to a fresh bullish run or a continuation of bearish activity conditioned by future market moves.
Notcoin has strong resistance around $0.022070. This level has continued to block the price from increasing and shown great selling pressure. In that respect, it would be essential for Notcoin to overcome this resistance around if it intends to make a new all-time high.
One can outline a point of support at approximately $0.017023; here, the price has been bouncing back up almost consistently, pointing to strong buying interest at this level. If Notcoin could hold support here, this might lay the groundwork for a later bullish breakout.
Generally speaking, the market sentiment is cautiously optimistic. While the bulls have lost some momentum recognizable after the recent bull run, there are still signs that a revival of the uptrend is entirely possible. All eyes shall be on Bitcoin's consolidation as it has the potential to dictate the prevailing cryptocurrency market trend.
If there is enough strength on the buyers' side, then Notcoin may recheck the resistance level of about $0.025. A successful breakthrough could break $0.03 and push the price to new all-time highs. Otherwise, if Notcoin does not attract more buying interest, this alt will continue to consolidate within the current range, experiencing small price movements.
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
