Has Telegram Coin Notcoin (NOT) Lost Its Bullish Momentum?

The price of Telegram-based game Notcoin (NOT) is recovering from recent declines, potentially allowing it to break through the downtrend line. With investor support, if this altcoin can surpass key resistance levels, further upside is possible.

Notcoin Investors Pursue Returns

It’s evident that NOT investors eagerly anticipate a price increase. The first clue confirming this comes from the funding rate. Consistently positive values indicate strong bullish sentiment among traders.

Additionally, the funding rate’s steady recovery from negative values reflects growing market confidence. This upward trend clearly demonstrates investors’ optimism and their confidence in Notcoin’s potential.

Furthermore, the Relative Strength Index (RSI) currently sits above the neutral line. RSI measures price momentum on a scale from 0 to 100, with values above 50 signaling buying pressure and values below 50 indicating selling pressure.

This crucial technical indicator highlights a significant surge in buying pressure. The rising RSI suggests that more investors are purchasing Notcoin, further supporting the sustained price increase. The combination of positive funding rates and an elevated RSI indicates a bullish trend.

Not a Price Prediction: Aiming for Historical Highs Again

Notcoin is currently trading below the resistance level of $0.01794, having risen 14% in the past 24 hours. Despite multiple tests, Telegram Coin has failed to break through this barrier in the last month.

The bullish sentiment observed by investors could help prevent another rejection at the resistance level. If successful, the price could rise to $0.02000, expanding potential gains for investors.

However, if Notcoin fails to break through again, its price may consolidate between $0.01794 and $0.01300. Losing the latter would invalidate the bullish argument, resulting in recent gains for Telegram Coin being compromised.

Disclaimer: This price analysis article serves as reference only and should not be construed as financial or investment advice. Before making any financial decisions, please conduct your own research and consult professionals.

Sentiment: Positive