Notcoin's Rally Sparks Interest Amid Potential Breakout Signals
Positive indicators point to a breakout despite mixed metrics.

Notcoin (NOT) surged by 12.89% in the last 24 hours, reaching $0.008007 as technical signals suggest a possible breakout. Traders are eyeing a bullish falling wedge pattern that could propel the cryptocurrency to significant new highs if momentum continues.
Technical analysis identifies key resistance at $0.01222, with a longer-term target of $0.030. If achieved, this would mark a 251% upside, a substantial recovery for the token. The Relative Strength Index (RSI) currently sits at 63.27, reflecting strong momentum while staying below the overbought threshold of 70, leaving room for further upward movement.
Increased trading activity has been recorded on major platforms, with Binance reporting $149.61K in long liquidations over the same period. This heightened activity underscores growing interest in NOT’s potential. Adding to the optimism, the Moving Average Convergence Divergence (MACD) has shown a bullish crossover, traditionally a signal for continued price gains.
While technical indicators shine, on-chain metrics paint a more nuanced picture. Network growth dipped by 0.56%, signaling a temporary slowdown in user adoption. Conversely, large transaction volumes rose by 8.56%, suggesting growing activity from institutional players or high-net-worth investors. The "In the Money" metric also improved by 1.83%, reflecting an increased number of holders in profit, which could reduce immediate selling pressure.
Holder distribution remained stable, with only a minor decline of 0.11%, suggesting little disruption in the ecosystem’s structure. However, a significant imbalance between short and long positions introduces an intriguing dynamic. Short interest stands at $352.91K compared to $268.52K in long positions. This discrepancy raises the possibility of a short squeeze, where rising prices force short sellers to cover their positions, amplifying buying pressure.
Binance continues to lead in NOT trading, with the majority of liquidation volumes and trading activity taking place on the platform. This central role in NOT’s market dynamics highlights the potential for sudden price moves driven by activity on the exchange.
The falling wedge pattern observed in NOT’s price chart is a classic bullish indicator, characterized by converging downward trendlines. A confirmed breakout above the $0.01222 resistance level, supported by strong trading volumes, could signal a sustained rally. Traders are watching the $0.008 level closely, as holding above this point may serve as a base for future gains.
The current setup, combining technical strength, increasing whale activity, and short interest imbalance, has created a volatile yet potentially lucrative environment for NOT. If momentum builds and resistance levels are cleared, the token could attract further attention, driving prices toward the $0.030 mark.
photo source / Blockonome
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