Notcoin Pauses After 160% Gain: Correction Or Further Rally Ahea
Notcoin Pauses After 160% Gain: Correction Or Further Rally Ahead
Notcoin seems to be taking a pause after six consecutive green days, culminating in an impressive 160% appreciation.
With a volume-to-market cap ratio exceeding 76.47%, Notcoin exhibits significant volatility, indicating a turbulent market landscape.
Over the last few sessions, the Notcoin has delivered an impressive growth claiming a gain of over 160% to their investors. The growth seems to be driven by the recent burning of nearly 17 M NOT tokens and announcement of NOT airdrop phase 1.
At the time of writing, the NOT price was exchanging hands close to $0.012 indicating a negative intraday development of over 3.66%. Despite dominating Intraday, the bears are still not looking confident as the price still hovers higher than the previous day's low.
However, the volume inflow has dropped in Intraday which indicates the weakening of bulls at the top and the price may experience some profit booking. Let's analyze and try to find out whether it may lead to a larger rally or a downward correction.
The Volume Inflow Dropped, Suggesting Weakening of Buyers
The recent price drop might continue to snap more gains as there has been a drop in the volume inflow. As per the data obtained from a financial website coinmarketcap.com the volume inflow has dropped by over 26.5%.
The drop in volume inflow might be an early sign of the losing bulls interest at the top and the price may head for a correction.
Also, the volume to market cap ratio was nearly 76.47% suggesting a high volatility in the crypto. It has circulating supply and a total supply of 102.71 Billion tokens.
Can Notcoin Continue To Gain Or Head For A Profit Booking
Notcoin price seems to be taking a pause after delivering a strong momentum for the last six consecutive sessions. Over these sessions the bulls have enjoyed a rally of over 160%.
However, the bears are trying to make a comeback as the price seems to be taking a pause in Intraday today. Despite the price being down over 3% in Intraday the bears are not looking confident as the price still hover above the previous day's low.
As of now, the daily chart seems to be witnessing an inside candle pattern. Now, if the price breaks above the Intraday high. it may indicate a bullish continuation and the crypto may continue to inch higher.
However, if the volume inflow drops and a profit booking situation arises, the price may drop towards the support of $0.0086.
Conclusion.
Notcoin has surged over 160% recently, fueled by the burning of 17 million tokens and a NOT airdrop announcement. However, the intraday trading shows a 26.5% drop in volume, hinting at potential profit-booking and a possible correction. The high volume-to-market cap ratio suggests volatility.
Currently, Notcoin price seems to be taking a pause after a six-day rally with an intraday dip of 3%. The formation of an inside candle pattern over the daily chart indicates that surpassing the intraday high could lead to further gains. While a continued volume decrease may push the price down to $0.0086 support.
Notcoin seems to be taking a pause after six consecutive green days, culminating in an impressive 160% appreciation.
With a volume-to-market cap ratio exceeding 76.47%, Notcoin exhibits significant volatility, indicating a turbulent market landscape.
Over the last few sessions, the Notcoin has delivered an impressive growth claiming a gain of over 160% to their investors. The growth seems to be driven by the recent burning of nearly 17 M NOT tokens and announcement of NOT airdrop phase 1.
At the time of writing, the NOT price was exchanging hands close to $0.012 indicating a negative intraday development of over 3.66%. Despite dominating Intraday, the bears are still not looking confident as the price still hovers higher than the previous day's low.
However, the volume inflow has dropped in Intraday which indicates the weakening of bulls at the top and the price may experience some profit booking. Let's analyze and try to find out whether it may lead to a larger rally or a downward correction.
The Volume Inflow Dropped, Suggesting Weakening of Buyers
The recent price drop might continue to snap more gains as there has been a drop in the volume inflow. As per the data obtained from a financial website coinmarketcap.com the volume inflow has dropped by over 26.5%.
The drop in volume inflow might be an early sign of the losing bulls interest at the top and the price may head for a correction.
Also, the volume to market cap ratio was nearly 76.47% suggesting a high volatility in the crypto. It has circulating supply and a total supply of 102.71 Billion tokens.
Can Notcoin Continue To Gain Or Head For A Profit Booking
Notcoin price seems to be taking a pause after delivering a strong momentum for the last six consecutive sessions. Over these sessions the bulls have enjoyed a rally of over 160%.
However, the bears are trying to make a comeback as the price seems to be taking a pause in Intraday today. Despite the price being down over 3% in Intraday the bears are not looking confident as the price still hover above the previous day's low.
As of now, the daily chart seems to be witnessing an inside candle pattern. Now, if the price breaks above the Intraday high. it may indicate a bullish continuation and the crypto may continue to inch higher.
However, if the volume inflow drops and a profit booking situation arises, the price may drop towards the support of $0.0086.
Conclusion.
Notcoin has surged over 160% recently, fueled by the burning of 17 million tokens and a NOT airdrop announcement. However, the intraday trading shows a 26.5% drop in volume, hinting at potential profit-booking and a possible correction. The high volume-to-market cap ratio suggests volatility.
Currently, Notcoin price seems to be taking a pause after a six-day rally with an intraday dip of 3%. The formation of an inside candle pattern over the daily chart indicates that surpassing the intraday high could lead to further gains. While a continued volume decrease may push the price down to $0.0086 support.
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