Notcoin (NOT) hints at recovery. Or it doesn't?
In recent weeks, the crypto community has experienced massive volatility, with Bitcoin recording a month low to trade at 60k.
However, various tokens have started a recovery, and Notcoin (NOT) has experienced considerable gains. At press time, NOT was trading at $0.015681 following a 9.91% surge in the last 24 hours.
The analysis showed that NOT is appearing bullish. Looking at the SMA, NOT’s current SMA is below the price on daily charts.
When prices are above SMA, buyers are dominating with increased asset demand, resulting in higher buying pressure. Higher buying pressure drives prices up, as a positive market sentiment shows.
Equally, NOT RSI of 55 is slightly above the neutral zone. RSI at the above neutral zone implies the market is experiencing increased buying pressure.
In this case, NOT’s RSI has shifted from 44 to 55 in the last 24 hrs. An upward movement for RSI shows the market sentiment is shifting to bullish.
Looking further, an analysis of Coinglass data showed that Notcoin’s open interest has surged from $146 million to $171 million in the last 24 hours.
Ultimately, NOT looks bullish after retesting the support level around $0.0141. If the positive sentiment holds and NOT closes above $0.0161, NOT could reach a higher of $0.0208 and a lower of $0.018 in the short run.
However, various tokens have started a recovery, and Notcoin (NOT) has experienced considerable gains. At press time, NOT was trading at $0.015681 following a 9.91% surge in the last 24 hours.
The analysis showed that NOT is appearing bullish. Looking at the SMA, NOT’s current SMA is below the price on daily charts.
When prices are above SMA, buyers are dominating with increased asset demand, resulting in higher buying pressure. Higher buying pressure drives prices up, as a positive market sentiment shows.
Equally, NOT RSI of 55 is slightly above the neutral zone. RSI at the above neutral zone implies the market is experiencing increased buying pressure.
In this case, NOT’s RSI has shifted from 44 to 55 in the last 24 hrs. An upward movement for RSI shows the market sentiment is shifting to bullish.
Looking further, an analysis of Coinglass data showed that Notcoin’s open interest has surged from $146 million to $171 million in the last 24 hours.
Ultimately, NOT looks bullish after retesting the support level around $0.0141. If the positive sentiment holds and NOT closes above $0.0161, NOT could reach a higher of $0.0208 and a lower of $0.018 in the short run.
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