70% Notcoin (
NOT)
Price Surge Unlikely Due
to These Reasons
Amid escalating volatility , Notcoin’s (NOT) price has decreased by 52% in the
last 90 days . As a result, some market participants view the massive Notcoin
price plunge as an opportunity to scoop more tokens at discount prices.
Despite occasional speculation suggesting Notcoin (NOT) could rebound to
$0.012, recent on-chain analysis casts doubt on the feasibility of such a
quick recovery.
Notcoin Loses Liquidity, Faces Roadblocks
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In June, the token associated with The Open Network• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ton (TON• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ton) blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн surged to
an all-time high of $0.028, largely driven by derivatives market activity.
During that rally, Open Interest (OI) peaked above $200 million, indicating
heightened liquidity and significant trader activity.
Open Interest measures the total number of open contracts related to a
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, and a high OI generally signals enhanced market liquidity.
This allows traders easier entry and exit points. However, when OI decreases,
it suggests traders are closing positions, leading to a less liquid market.
According to Santiment, Notcoin s Open Interest has since dropped to
$67.57 million. This reduction implies that the market lacks sufficient
capital to support a 70% price increase that would push the token back up to
$0.012.
Read more: Top 7 Telegram Tap-to-Earn Games to Play in 2024
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Notcoin Open Interest. Source: Santiment
Currently, NOT is trading at $0.0073, and data from the In/Out of Money Around
Price (IOMAP) suggests that it could face downward pressure.
The IOMAP tool evaluates the average price at which tokens were purchased and
compares this with the current market price to determine the volume of
addresses holding in profit, loss, or breakeven. At the moment, the token
faces significant resistance at $0.0076 , as 87,610 addresses holding a total
of 8.41 billion tokens are currently at a loss.
This volume exceeds the amount held by addresses in profit, which bought
between $0.0062 and $0.0073. Notcoin IOMAP. Source: IntoTheBlock
NOT Price Prediction: Time to Go Below $0.0070
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On September 14, Notcoin (NOT) briefly rose to $0.0080 before encountering
resistance and entering a downward trend. In the 4-hour timeframe, NOT faces
resistance at both $0.0073 and $0.0074, as these levels have consistently
hindered upward movement.
The Relative Strength Index ( RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI ) has dropped to 37.54, suggesting a bearish
outlook, as readings below 50 indicate momentum is skewed towards selling
pressure.
Read more: Where To Buy Notcoin: Top 5 Platforms In 2024 Notcoin 4-Hour
Analysis. Source: TradingView
If this momentum continues or worsens, NOT could slip below the $0.0071
support level, potentially dropping further to $0.0066. However, if buyers
step in and purchase significant volumes, Notcoin may resist the downward
pressure and surge back toward $0.0080.
Top crypto platforms | September 2024
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Top crypto platforms | September 2024
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Top crypto platforms | September 2024
AlgosOne
BYDFi
M2 Exchange
Exodus
Сoinex
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