Telegram-based cryptocurrency Notcoin has attracted investors’ interest in the last 24 hours with impressive price performance. According to data from CoinMarketCap, Notcoin notched a 12.75% profit on Friday to emerge as the market’s top gainer. While the asset’s momentum appeared to have cooled following a price correction in the last few hours, certain trading indicators encourage investors to retain a bullish sentiment.
Notcoin To Hit $0.014 If Buying Pressure Persists: Analyst
In an X post on Friday, popular crypto analyst Ali Martinez shared a bullish prediction on Notcoin. According to Martinez, the SuperTrend indicator on the NOT’s daily chart has shown a buy signal following the token’s most recent ascent out of a falling wedge.
The SuperTrend indicator just flashed a buy signal on the #Notcoin daily chart as $NOT breaks out of a falling wedge! Increased buying pressure could potentially push #NOT toward $0.012 to $0.014. pic.twitter.com/fJfWMDXCvV
— Ali (@ali_charts) September 27, 2024
Generally, the SuperTrend is a simple technical indicator used to predict the potential direction of an asset’s price. A buy signal occurs when the price moves above the SuperTrendine suggesting the asset would likely maintain its upward trajectory.
According to Martinez, if investors are influenced by the SuperTrend indicator, thus increasing capital influx into Notcoin market, the token could likely surge trade as high as $0.012 – $0.014 representing a potential 41.41% gain on its present market value.
In the presence of an overwhelming bullish pressure, NOT could rise to around $0.020 reaching price levels last seen in early August. Alternatively, if a price fall were to occur perhaps due to news events or macroeconomic factors, the telegram-based asset will likely find support around $0.0069.
NOT Price Overview
Notcoin emerged as a play-to-earn token on the messaging platform Telegram, allowing people to earn by tapping a virtual coin and participating in game tasks. Following its official launch in May, Notcoin drew much attention, rising by over 380% to hit an all-time price of $0.029. However, the token’s value gradually declined in the following weeks and has since failed to return to such heights.
Nevertheless, NOT has quickly grown into a major digital asset, earning a spot in the top 100 cryptocurrencies with a market cap of $1 billion.
At the time of writing, Notcoin’s price hovers around $0.0098 following a correction from the peak price of $0.0105 on Friday. The cryptocurrency boasts significant gains of 31.66% and 8.08% in the past seven and thirty days respectively. Meanwhile, NOT’s trading volume is up by a stunning 145.17% and valued at $374.18 million.
Source: NewsBTC