In the past 24 hours, Notcoin (NOT) has shown relatively stable performance despite volatility. The coin is currently trading at $0.00773, representing a minor 1.01%% decrease, as observed. We can gain insights into the price movement by utilizing key technical indicators like the Exponential Moving Average (EMA) and the Relative Strength Index (RSI).
Key Indicators Driving the Market
The chart shows four key EMAs (20/50/100/200), which indicate short- and long-term trends. The price has hovered slightly above the 100-period EMA (currently at $0.00774), a crucial level providing short-term support. This suggests a possible consolidation phase after the coin’s recent uptrend.
Additionally, the RSI divergence is currently at -12.87905, signalling slight bearish pressure. This divergence often indicates potential market reversals, where momentum is weakening. In this case, it could signal that the recent pullback might continue, but the nearby EMAs could act as support to prevent a more significant decline.
Short-Term Market Outlook
The price made a small correction on the hourly timeframe after hitting a local high of $0.00780. The downward pressure brought the price back toward the $0.00765 level, where it found temporary support. The price could retest recent highs if buyers can reclaim the 50-period EMA at $0.00774.
In the event of a further correction, the 200-period EMA at $0.00765 could serve as strong support. A breakdown below this level might trigger additional selling pressure, pushing the price toward the next support zone near $0.00760.
Conclusion
Notcoin’s current movement suggests a consolidation phase with a slight bearish bias. However, strong EMA support levels provide the foundation for potential upward momentum. If buyers can defend these levels, the price could see a breakout in the coming hours.
