Notcoin (NTC) Price Prediction: Bulls Target Further Gains Amid Potential Pullback

  • Notcoin (NOT) has recently experienced a significant bullish market structure across both lower and higher timeframes.
  • The mid-week rally of NOT resulted in an impressive +100% gain when adjusted on the weekly charts.
  • Notcoin’s on-chain holders have now surpassed those of popular tokens such as PEPE, SHIB, and BONK.

Discover the latest developments in Notcoin’s bullish rally and what it means for investors.

Notcoin’s Mid-Week Rally: A Closer Look

Notcoin (NOT) has been making waves in the crypto market with its recent explosive upswing. The token was up about 40% in the past 24 hours, with over 100% gains in the weekly chart. This surge has placed Notcoin alongside GameStop (GSTOP) on the CoinMarketCap trending list as of May 30th.

Technical Analysis and Market Indicators

In a recent Notcoin price analysis report, it was established that the Telegram-based Web-3 gaming token could gain an extra 38%. This projection was validated, and key technical chart indicators suggest that NOT is far from pulling the brakes on its rally.

Notcoin enjoyed strong buying pressure, as evidenced by the bullish reading of the Relative Strength Index (RSI) indicator, which stood at 74. Additionally, capital inflows surged in NOT markets from May 28th, as shown by the sharp climb above the average level of the Chaikin Money Flow (CMF) indicator. Collectively, these readings paint a bullish momentum for NOT’s price.

Future Price Predictions and Potential Pullbacks

The upswing above the 38.6% Fibonacci level ($0.0095) flipped the market structure bullish in the lower timeframe, indicating that further upside could be likely. If this trend continues, NOT could achieve an additional 14% gain if it clears its recent higher high at $0.012 (0% Fib level) in the next few hours or days.

However, liquidity heatmaps suggest that a short pullback towards the near 20-day EMA (exponential moving average) cannot be ruled out. Coinglass liquidation data showed key liquidity clusters near $0.011 and $0.013 on the 24-hour chart. Market manipulation by market makers could lead to a liquidity hunt for both levels, with the closest then the furthest from the current price level.

Derivatives Market and On-Chain Activity

The massive surge in Open Interest (OI) further cemented a strong bullish sentiment for NOT in the derivatives markets. This indicates that more capital flowed into NOT’s market, suggesting that most participants expect a further price rally. Further positive price chart traction for the token could be likely after hitting a record 1.6 million in on-chain users, surpassing even memecoins like Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK).

Conclusion

Notcoin’s recent performance has been nothing short of remarkable, with significant gains and a strong bullish sentiment in both the spot and derivatives markets. While a short-term pullback is possible, the overall outlook remains positive, with potential for further gains. Investors should keep an eye on key technical levels and market indicators to make informed decisions.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

spot_imgspot_imgspot_imgspot_img

PRO Analysis

Floki ($FLOKI) Poised for Strong Gains in 2024: An In-Depth Analysis

Cryptocurrency investors are continuously searching for lucrative...

Ethereum Price Analysis: ETH Eyes Break Above $3,650 for Potential Surge to $4,000

Ethereum's price saw notable oscillations...

Notcoin Price Analysis: Short-Term Bullish Signals Amidst Downtrend Concerns

The recent price movement of Notcoin (NOT)...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Bitwise Launches NFT-Mintable Ethereum Campaign to Fund ETH Development

Asset manager Bitwise has launched a new campaign to promote Ethereum and fund its development through NFT minting. ...

Winklevoss Twins Donate $2 Million in Bitcoin to Support Trump’s Presidential Campaign

The Winklevoss twins made headlines by donating $2 million in Bitcoin to the campaign of former U.S. President Donald Trump. Co-founders...

Bitcoin Open Interest Remains High Despite Recent Price Drop and Surging Liquidations

In a surprising twist, Bitcoin’s open interest remains elevated despite a recent dip in its price. This...