As an experienced analyst, I have closely monitored the crypto market’s trends and price movements for years. Based on my analysis of the current situation, I believe that the market bounce off, as indicated by CoinStats, is nearing its end. The recent decline in NOT‘s price, which has dropped 2.48% over the past 24 hours, is a clear sign of this trend.
The market bounce off is coming to an end, according to CoinStats.
NOT/USD
The price of Notcoin (NOT) has declined by 2.48% over the past 24 hours.
On the hourly chart, the downtrend may have encountered a brief respite at the potential support level of $0.0155. Should the daily bar finish significantly away from this mark, the uptrend could persist, potentially reaching the $0.01620 area in the following day.
From my perspective as an analyst, a more pessimistic view emerges when considering the larger timeframe. Yesterday’s bullish momentum did not carry over into today’s trading session.
If the price of today’s candle drops below $0.01540, bears could regain control, potentially causing a downward trend towards the $0.014 level in the near future.
As an analyst, I would advise focusing on the weekly candles’ closures from a mid-term perspective. Should a candle close in the vicinity of the $0.01663 level without a significant wick, this could indicate an accumulation of energy that might lead to a resistance breakout. Subsequently, a potential move towards the $0.02 area could follow.
NOT is trading at $0.01561 at press time.
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2024-07-10 19:08