Recently, Notcoin (NOT) has been in the spotlight due to the surge in Telegram Coin, and many people have jumped into investing in it.
However, altcoins appear to be losing momentum after a good rise, and investors are also showing bullishness.
Notcoin is not recovering.
The price of Notcoin is currently in a downward trend , and despite attempts to break it, there is no significant change. The resulting change in sentiment among Notecoin holders is now becoming much clearer.
Nonetheless, the short-term outlook for Telegram Coin is optimistic, so it would be safe to see it fall below the $0.015 support level.
Moving Average Convergence Divergence (MACD) indicates that Natcoin is experiencing a short-term bullish crossover. This technical signal typically suggests potential upward momentum as the MACD line crosses above the signal line, suggesting increased buying pressure for Notcoin and a positive change in market sentiment .
But despite these bullish indicators, investors remain pessimistic about a recovery. The trend is trending downward, as evidenced by the funding ratio, which hit negative territory for the first time this month.
A negative funding ratio means that the market is dominated by short contracts, where investors are betting on prices falling rather than rising prices. This reflects a bearish outlook despite the MACD indicating a near-term bullish crossover.
Read more: How to Buy Notcoin (NOT) and Everything You Need to Know
So, while we may not witness a decline as altcoins progress, a rally is completely out of the question.
It's not a price prediction: stop the decline
Currently, the price of Notcoin is holding on to the important support level of $0.015. It will likely remain sideways below $0.018 until it gains enough momentum to start a rally again.
The downward trend line will be back in effect for a few weeks before the fake out occurs. If Telegram Coin breaks this line, altcoins can be expected to show further strength.
Read More: Notcoin (NOT) Price Prediction 2024/2025/2030
However, if investors' decision to remain bearish does not change , Notcoin is likely to fall below the $0.015 support level. Losing this would not only invalidate the bullish logic, but would also result in lows around $0.014 and $0.013.
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