Notcoin (NOT) Daily Price Analysis: NOT Maintains Upward Momentum, Surging by 37.38% in the Last 24 Hours 

Price Analysis: Notcoin Inches Up 3.79% in 24 hours; Is (NOT) Heading for Another Sideways or Breakout on the Horizon?

Since its official listing, Notcoin (NOT) has consistently been one of the best-performing and most talked-about tokens over the past two weeks. The bears maintained a downtrend for over a week, which led to a low of $0.004583 on May 24. However, this floor price was a precursor to a strong recovery push.

Significant Price Surge

On May 28, Notcoin experienced a significant surge, jumping 58% to retest the $0.01 price territory. This surge followed a community poll where proponents favoured Notcoin over Bitcoin. As a result, Notcoin has substantially increased 37.38% in the past 24 hours, reaching $0.012. This is the highest price since its last significant decline.

Source: NOT 24-hour Chart (CMC)

Market Cap and Trading Volume

The asset’s market cap has risen to $1.23 billion, making it the 72nd-largest cryptocurrency. Notcoin’s daily trading volume also increased by 2.18%, reaching $1.15 billion. This growth underscores the heightened interest and trading activity surrounding the token.

Notcoin has emerged as the top gainer among the leading 100 cryptocurrencies, even as the broader crypto market faces bearish momentum. Its market cap ranking has improved significantly, moving up from #87 to #75 in just the last 24 hours.

Related article: Notcoin (NOT) Continues Its Uptrend After a Slight Pullback: Will it Break Its ATH?

RSI and Market Indicators

According to data from Santiment, the NOT Relative Strength Index (RSI) is currently at 83. This indicates that Notcoin is overbought, suggesting the possibility of whale price manipulation. For Notcoin to maintain its gradual price increase, its RSI would need to cool down below the 50 mark.

The overall market has slipped into a consolidation phase characterized by range-bound movements. Bitcoin (BTC) struggles to hold above the $68,000 price territory, contributing to this consolidation. Notcoin’s impressive performance amidst this market condition highlights its potential resilience and investor confidence.

Conclusion

Notcoin’s recent performance has been remarkable, with substantial gains in price, market cap, and trading volume. The community’s strong support and the positive price movements indicate a promising outlook for the token. However, potential overbought conditions and the broader market’s bearish momentum could pose challenges. Investors should keep an eye on the RSI and market trends to make informed decisions.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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