Notcoin Preparing For A 45% Surge: Time To Ride The Trend
Notcoin Preparing For A 45% Surge: Time To Ride The Trend?
The daily NOT/USD chart highlights Notcoin breaking out of an interesting channel pattern.
The Open Interest contracts have surged nearly 20% a day to $150 Million.
At the time of writing, Notcoin was exchanging hands close to $0.016 recording a positive development of nearly 6.20% today.
The Bitcoin's U-turn from the lows in the previous week has wiped out the fear among the investors and re-established confidence among the Investors. Since last week, Bitcoins as well as Altcoins seem to be recovering, snapping off the earlier losses.
While few altcoins are still stabilizing at the lows to bounce back, on the flip side, few cryptocurrencies are ready to take off. It might be better to join them before the party begins.
Notcoin has made a strong recovery from the lows and seemed ready to break out of a correction phase. Earlier, the price had been following a declining channel pattern and correcting.
However, the recent comeback by the bulls suggest a possible breakout of a correction phase. Moreover, the jump in the OI data and transaction volume also adds further confirmation to the same.
OI Data Jumps By 20% A day?
Notcoin began as a popular Telegram game, introducing numerous users to web3 through a tap-to-earn mining feature. The NOT token serves as a community currency for the game.
Users can earn NOT by exploring web3 products, contributing to the ecosystem, and participating in various new games to increase their earnings. It has a live market capitalization of $1.70 Billion and ranks 52nd in the cryptoverse.
While the bulls are preparing for a breakout of a declining parallel channel pattern, there has been a notable development in the OI data. OI data study from app.santiment.net website highlights a significant amount of inflow in the open interest contracts.
As per the data, the Open Interest contracts have jumped nearly 20% to $150 Million in a day suggesting a long buildup. The long buildup in the OI data points to a possible breakout in the forthcoming sessions.
Notcoin Bulls Target 45% Gains?
The daily NOT/USD chart highlights the formation of a declining parallel channel pattern with the price getting ready for a breakout. The recent sessions have experienced a strong comeback from the lower boundary of the channel followed by a retest of the upper boundary of the channel.
All these scenarios on a combined note points to a breakout. A breakout of the pattern may validate the termination of a correction phase and initiation of a new bullish phase. On the higher side, the short term traders and investors may look for a 45% gain till the recent swing high.
The technical indicators are leaving a bullish note on a combined analysis. The key EMAs are supporting the trend. while RSI showcases a bullish crossover with a 14 day SMA line suggesting a bullish continuation ahead.
Can Notcoin Breakout Or Fail?
Notcoin has taken a rebound from its lows and is preparing to break out of a correction phase. The price had been following a declining channel pattern, but recent data shows a significant inflow in open interest (OI) contracts, jumping 20% to $150 million in a day, indicating a long buildup.
Moreover, The daily NOT/USD chart suggests a potential breakout from the declining channel, supported by a strong comeback by the bulls and retest of the upper boundary. Technical indicators, including key EMAs and RSI, point to a bullish continuation. A breakout could end the correction phase with potential gains of 45%.
The daily NOT/USD chart highlights Notcoin breaking out of an interesting channel pattern.
The Open Interest contracts have surged nearly 20% a day to $150 Million.
At the time of writing, Notcoin was exchanging hands close to $0.016 recording a positive development of nearly 6.20% today.
The Bitcoin's U-turn from the lows in the previous week has wiped out the fear among the investors and re-established confidence among the Investors. Since last week, Bitcoins as well as Altcoins seem to be recovering, snapping off the earlier losses.
While few altcoins are still stabilizing at the lows to bounce back, on the flip side, few cryptocurrencies are ready to take off. It might be better to join them before the party begins.
Notcoin has made a strong recovery from the lows and seemed ready to break out of a correction phase. Earlier, the price had been following a declining channel pattern and correcting.
However, the recent comeback by the bulls suggest a possible breakout of a correction phase. Moreover, the jump in the OI data and transaction volume also adds further confirmation to the same.
OI Data Jumps By 20% A day?
Notcoin began as a popular Telegram game, introducing numerous users to web3 through a tap-to-earn mining feature. The NOT token serves as a community currency for the game.
Users can earn NOT by exploring web3 products, contributing to the ecosystem, and participating in various new games to increase their earnings. It has a live market capitalization of $1.70 Billion and ranks 52nd in the cryptoverse.
While the bulls are preparing for a breakout of a declining parallel channel pattern, there has been a notable development in the OI data. OI data study from app.santiment.net website highlights a significant amount of inflow in the open interest contracts.
As per the data, the Open Interest contracts have jumped nearly 20% to $150 Million in a day suggesting a long buildup. The long buildup in the OI data points to a possible breakout in the forthcoming sessions.
Notcoin Bulls Target 45% Gains?
The daily NOT/USD chart highlights the formation of a declining parallel channel pattern with the price getting ready for a breakout. The recent sessions have experienced a strong comeback from the lower boundary of the channel followed by a retest of the upper boundary of the channel.
All these scenarios on a combined note points to a breakout. A breakout of the pattern may validate the termination of a correction phase and initiation of a new bullish phase. On the higher side, the short term traders and investors may look for a 45% gain till the recent swing high.
The technical indicators are leaving a bullish note on a combined analysis. The key EMAs are supporting the trend. while RSI showcases a bullish crossover with a 14 day SMA line suggesting a bullish continuation ahead.
Can Notcoin Breakout Or Fail?
Notcoin has taken a rebound from its lows and is preparing to break out of a correction phase. The price had been following a declining channel pattern, but recent data shows a significant inflow in open interest (OI) contracts, jumping 20% to $150 million in a day, indicating a long buildup.
Moreover, The daily NOT/USD chart suggests a potential breakout from the declining channel, supported by a strong comeback by the bulls and retest of the upper boundary. Technical indicators, including key EMAs and RSI, point to a bullish continuation. A breakout could end the correction phase with potential gains of 45%.
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