Bullish Patterns Suggest Notcoin Could Revisit ATH Soon
Notcoin (NOT) created significant market buzz before its launch, but initial investor enthusiasm was dampened when the token’s price dropped shortly after its release. However, a recent bullish pattern suggests a potential comeback.
Notcoin’s Potential Rebound
Notcoin generated a lot of anticipation prior to its launch. However, the token’s price declined significantly soon after, disappointing early investors. Yet, the token has shown signs of recovery, with its value increasing by over 40% in just a week.
Despite this surge, Notcoin experienced a 7% decline in the last 24 hours, trading at $0.0203 with a market cap exceeding $2 billion. This price drop also negatively affected its social metrics, with decreased social volume and negative weighted sentiment indicating prevailing bearish sentiments.
Signs of a Bullish Reversal
Despite recent setbacks, a bullish pattern has emerged on Notcoin’s price chart. Popular crypto analyst Captain Faibik recently highlighted that Notcoin might break out of this bullish pattern, potentially leading to a 67% price increase and a retest of its all-time high.
Analyzing Technical Indicators
To evaluate the potential for a trend reversal, we analyzed Notcoin’s 12-hour chart. The MACD indicator shows a bearish crossover, suggesting continued price declines. However, the RSI has shown an uptick, and the Chaikin Money Flow (CMF) also indicates a potential breakout from the bullish pattern.
Broader Market Context
Notcoin is minted on the Toncoin [TON] blockchain, which has also seen positive momentum, with its price rising by over 17% in the past week. This broader market support could further bolster Notcoin’s recovery prospects.
In summary, while Notcoin has faced recent declines, emerging bullish patterns and broader market trends suggest potential for a significant price recovery. Investors should closely watch these developments as the token attempts to regain its previous highs
