Telegram token’s recent surge has made Notcoin (NOT) a focal point, prompting many to invest. However, after a good rise, the altcoin seems to be losing momentum, and investors are evaluating the process when it comes to an increase. Notcoin’s price is currently on a downtrend, and despite efforts to overcome this trend, not much has changed.
What’s Happening with Notcoin?
With these developments, the short-term outlook for NOT has turned bullish, potentially saving the altcoin from falling below the $0.015 support. The MACD level indicates that Notcoin is experiencing a short-term upward trend. This technical signal usually points to a potential upward process when the MACD line crosses above the signal line.
There is a possible increase in buying pressure and a positive change in market sentiment for Notcoin. However, despite this bullish indicator, investors remain pessimistic about the recovery. This month, for the first time, the negative funding rate also indicates a downtrend.
This negative funding rate means that short-term contracts dominate the market, and investors expect a price drop rather than an increase. This reflects a downtrend despite the short-term upward trend indicated by the MACD. Therefore, as the altcoin progresses, it may not witness a drop, but a rise is not entirely possible.
Notcoin Chart Analysis
For now, Notcoin is not at risk of losing the critical $0.015 support. It will likely move below $0.018 until it gains enough momentum to draw an upward chart again. The downtrend line, which has not been below this price for weeks before the process, will come to the fore again, and if Notcoin violates this line, the altcoin can expect a more bullish outcome.
However, if investors’ decision to maintain the downtrend does not change, the likelihood of Notcoin falling below the $0.015 support is quite high. Losing this will not only invalidate the bullish thesis but also bring lower lows around $0.014 and $0.013 for the NOT price.
