Despite recent positive actions, Notcoin remained calmly indecisive as it continued to consolidate daily due to a shrink in volatility. While it has yet to break out of a resistance line, the price looks ready for another drop.
Not’s overall market outlook is still bearish as it maintained a lower low and lower high movement on the daily chart. However, the trading levels might change soon as selling nearly reaches exhaustion.
Crossing over into this month bearishly, Notcoin saw an extreme drop in volatility and subjected trading to a sideway movement. This led the market into a consolidation phase; as we can see, it has not made a major move up until now.
But following this week’s rejection under the $0.0085 resistance level, the crypto may initiate another drop any moment from now. And if that happens, June’s pullback level would be the next sell target to watch.
We can anticipate a major increase from the pullback level. A dip below this level could slip the market back to its launch price before retracing.
The falling resistance line has been a barrier for the bulls since June. If they manage to overcome this crucial resistance in their next attempt, we can expect an upward movement in no time. But as it stands now, Not is still in a downward range at the time of writing.
NOT’s Key Level To Watch
Source: Tradingview
Amid consolidation, the closest support level for a drop lies at $0.0058, followed by the $0.005 support – June’s pullback level. If the price breaks lower, its launch price of $0.0008 level is the next level to watch.
There are no signs of bulls at the moment. But if they manage to break above the $0.0085 level, located above the falling resistance, $0.0129 and $0.018 are higher levels to watch for a test.
Key Resistance Levels: $0.0085, $0.0129, $0.018
Key Support Levels: $0.0058, $0.005, $0.0008
Spot Price: $0.0076
Trend: Neutral-Bearish
Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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