Notcoin (NOT) Price Prediction: Will NOT Hit $1 by the End of July?

Bittime - Notcoin (NOT), a Telegram-based altcoin, has experienced significant volatility in the last 24 hoursir. The bullish trend struggles to maintain upward momentum amid mild market recovery. At the time of this report, Notcoin price was trading at $0.01022, up 0.54% during the European trading session.

The market capitalization is currently around $1.047 billion, placing Notcoin as the 63rd largest cryptocurrency by market capitalization. This comes amid a 35% decline in 24-hour trading volume, which reached around $284.41 million.

Can Notcoin Price Break the $0.012 Barrier?

Notcoin experienced a fluctuating trading pattern throughout the day, peaking at $0.01063 and dropping to a low of around $0.01002. This Telegram-based altcoin has plunged more than 30% in the past week, signaling a bearish mood among its investors. Its trading value oscillates between $0.015 and $0.009. Throughout the last month, Notcoin continued its downward trend, resulting in a drop of 54%. This decline reflects a broader correction observed across the cryptocurrency spectrum.

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However, today shows a brighter picture for the digital currency market. After the recent decline, major cryptocurrencies, including Bitcoin, have seen substantial gains. Bitcoin has surged past $56,000. Similarly, Ethereum, Solana, and Dogecoin also witnessed significant recoveries, recording positive movements in the last 24 hours.

Toncoin, the cryptocurrency associated with the widely used Telegram messaging platform, has recorded a significant increase in market price, surging more than 7% in just 24 hours. This latest rally is part of a broader wave of enthusiasm for altcoins and continued innovation in the digital currency landscape.

Notcoin Price Prediction When Market Recovers: Will NOT Hit $1 by the End of July?

Notcoin experienced a significant decline, hitting a low of $0.0091 last Friday, marking its worst performance since May 29. This represents a dramatic decline of 64% from its peak.

Initially priced at just over a cent at $0.01026 upon its debut on May 16, 2024, the cryptocurrency surged nearly 300% in the following weeks, peaking at $0.02896 on July 2. However, shifts in market sentiment have led to a steady rebound in their value, highlighting the volatility associated with digital currencies.

Bullish Rebound or Further Decline?

If the recent market recovery strengthens, Notcoin may soon enter a bullish phase. If the current trend continues, this cryptocurrency may surpass the $0.012 resistance level. Such an upward move could push its value closer to $0.02 and possibly reach $0.05 in the near future.

In contrast, Notcoin is currently facing significant downside momentum. If market sentiment worsens, it may find support at $0.009. A sustained decline may bring its price down to around $0.008, indicating a bearish market scenario. Further pressure could push Notcoin's value down to $0.007.

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Technical Indicators Show Potential Market Rebound

The 4-hour technical indicators for Notcoin, as observed on the chart, indicate a mild market rebound. The Moving Average Convergence Divergence (MACD) indicator remains negative, indicating ongoing bearish momentum despite the recent price rise. The MACD line is below the signal line, indicating that the bearish trend may still dominate in the near future.

Source: TradingView

Meanwhile, the Relative Strength Index (RSI) is currently at 33, which indicates a neutral trend. This could be a signal that the downward pressure is nearing its end, possibly leading to stabilization or reversal if other market conditions are favorable.

Conclusion

With high market volatility and emerging bullish sentiment, Notcoin has the potential to surpass the key resistance level of $0.012 in the near term. However, continued bearish pressure and uncertain market conditions should be considered by investors. If the positive trend continues, the $1 price target by the end of July may be achieved, but supportive market conditions and positive sentiment across cryptocurrency markets will be key.

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To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete Guide How to Buy Crypto on Bittime. 

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