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The Notcoin (NOT) cryptocurrency has experienced large swings recently, after dropping by 5.80 percent in twenty-four hours. The price of Notcoin right now stands at $0.013325 with a volume trading of $191 million. This abrupt downturn is seen as a major setback to the Notcoin environment, possibly leading to a loss of momentum and investors’ confidence.
The price action of the NOT coin shows lost momentum and fell towards lower prices after initially standing firm at the $0.01471 support zone. From the daily chart, NOT has been showing bearish patterns as prices fell below crucial supports, therefore implying that there could still be more bearish sentiment remaining on board. The RSI resides at 42.29 which indicates a strong selling pressure as the coin approaches oversold territory.
Based on technical indicators, things might look bleak for Notcoin in the short-term future. During this time, the 50-day EMA is also descending indicating strong bearish market sentiments prevailing within its domains. Such kind of EMA alignment normally suggests consistent bear pressures unless something positive happens because otherwise Notcoin will keep struggling.
If Notcoin fail to reclaim and maintain above the previous turn resistance level now acting as support at $0.01471, path down remains easyest way out.The $0 .010 level considered both psychological and technical support levels , hence when breached further decline will intensify leading to lower lows.
However, there have been some broader developments against this backdrop. Cryptocurrency is highly volatile and can turn fortunes around for assets such as Notcoin overnight. Major institutional players on the other hand are promoting the other digital currencies through, like BlackRock introducing Ethereum ETFs that provide insights about future institutional interest in the asset class.
When Bitcoin broke the $68k mark in a bull rally, Notcoin (NOT) failed to keep up and traded around $0.01337 during the period of great volatility in the market. Whales of this crypto coin are particularly hit hardest by recent decrease thus making many doubtful about whether it’s a right path or not? However, even as Notcoin maintains huge influence within the cryptocurrency market, current turbulence within its ecosystem raises investor concerns thereby casting doubt on sustainability and growth prospects in future for this project.
