In the past 24 hours, Notcoin (NOT) has shown a mixed performance with an overall downward trend. The current price of NOT is $0.01378, which reflects a slight increase of 1.36%. This analysis leverages the Exponential Moving Averages (EMAs) and the visible price trendlines to understand the price movements.
Technical Analysis
The chart includes four EMAs – 20, 50, 100, and 200 periods. Currently, the price of NOT is below all these EMAs, indicating a bearish sentiment. The 20-period EMA is at $0.01368, the 50-period EMA is at $0.01377, the 100-period EMA is at $0.01394, and the 200-period EMA is at $0.01432. The 20-period EMA being the lowest suggests that short-term momentum is particularly weak.
Trendlines and Support/Resistance Levels
The key support and resistance levels are visible on the chart. Immediate support is around the $0.01290 level, while resistance lies at $0.01459 and $0.01749. The price is currently close to the $0.01290 support level, which has previously held, indicating its strength as a support zone. If the price breaks below this level, it may continue its downward trend towards $0.01200 or lower.
Related article: Notcoin 24-Hour Price Analysis: (NOT) Shows Strength as it Surges 2.24%; What to Expect in August
Notcoin Price Action
The price has been mostly trading sideways with a slight downward bias over the past 24 hours. This suggests indecision in the market, with neither buyers nor sellers taking full control. The price briefly touched the $0.01459 resistance level but failed to sustain the upward momentum, indicating that selling pressure is still strong.
Market Sentiment
Given that the price is below all major EMAs and has failed to break above the resistance level, the overall market sentiment remains bearish. Traders should be cautious as the market could continue to trend downwards. However, if the price breaks above the 200-period EMA at $0.01432, it could signal a potential reversal.
Conclusion
The 24-hour NOT analysis shows a bearish trend with key resistance levels preventing significant upward movement. The price must break above the $0.01432 level to indicate a bullish reversal. Until then, traders should be cautious and watch for any further price declines, especially if the price breaks below the $0.01290 support level.
