Technical Analysis of NOTUSDT.P on the 4h chart
Technical Analysis of NOTUSDT.P on the 4h chart
Current Situation
Current Price: 0.021313
Chart Time Frame: 4 hours
Bollinger Bands (21, 2)
Lower Band: 0.007565
Middle Band : 0.017023
Upper Band: 0.026481
Key Levels
Support: 0.020353
Resistance: 0.024051
Historical Context
Last Overbought: 2nd June 2024, with the price above 0.017313
Technical Analysis
Current Price Relative to Bollinger Bands:
The current price of 0.021313 is above the middle band (0.017023) but below the upper band (0.026481), indicating that it is in the upper half of the Bollinger Bands range. This suggests moderate bullish momentum.
Support and Resistance:
The price is close to the support level of 0.020353, which may act as a floor preventing the price from falling further.
The resistance level at 0.024051 is relatively close, indicating a potential short-term upside if the price can break through this level.
Recent Overbought Condition:
The last overbought condition was on 2nd June 2024, when the price was above 0.017313. This suggests that the price has experienced significant upward movement since then, but it's currently not in the overbought territory.
Potential Scenarios
Bullish Scenario:
If the price continues to rise and breaks the resistance at 0.024051, it could signal a continuation of the upward trend. The next target would be approaching the upper Bollinger Band at 0.026481.
Bearish Scenario:
If the price fails to hold above the support level of 0.020353, it could signal a potential reversal or consolidation. In this case, the price might test lower levels closer to the middle Bollinger Band at 0.017023.
Conclusion
Currently, NOTUSDT.P shows signs of bullish momentum as it trades above the middle Bollinger Band and near its support level. Watching the resistance level at 0.024051 will be crucial for determining the next movement. A break above this resistance could confirm the continuation of the upward trend, while a failure to hold the support might lead to a pullback towards the middle band.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions.
Current Situation
Current Price: 0.021313
Chart Time Frame: 4 hours
Bollinger Bands (21, 2)
Lower Band: 0.007565
Middle Band : 0.017023
Upper Band: 0.026481
Key Levels
Support: 0.020353
Resistance: 0.024051
Historical Context
Last Overbought: 2nd June 2024, with the price above 0.017313
Technical Analysis
Current Price Relative to Bollinger Bands:
The current price of 0.021313 is above the middle band (0.017023) but below the upper band (0.026481), indicating that it is in the upper half of the Bollinger Bands range. This suggests moderate bullish momentum.
Support and Resistance:
The price is close to the support level of 0.020353, which may act as a floor preventing the price from falling further.
The resistance level at 0.024051 is relatively close, indicating a potential short-term upside if the price can break through this level.
Recent Overbought Condition:
The last overbought condition was on 2nd June 2024, when the price was above 0.017313. This suggests that the price has experienced significant upward movement since then, but it's currently not in the overbought territory.
Potential Scenarios
Bullish Scenario:
If the price continues to rise and breaks the resistance at 0.024051, it could signal a continuation of the upward trend. The next target would be approaching the upper Bollinger Band at 0.026481.
Bearish Scenario:
If the price fails to hold above the support level of 0.020353, it could signal a potential reversal or consolidation. In this case, the price might test lower levels closer to the middle Bollinger Band at 0.017023.
Conclusion
Currently, NOTUSDT.P shows signs of bullish momentum as it trades above the middle Bollinger Band and near its support level. Watching the resistance level at 0.024051 will be crucial for determining the next movement. A break above this resistance could confirm the continuation of the upward trend, while a failure to hold the support might lead to a pullback towards the middle band.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.