Notcoin (NOT) Price Prediction: Still Down, Is There Potential for an Upturn?

Bittime - Enthusiasm around Notcoin (NOT), a once promising Telegram-based “tap-to-earn” project, has waned significantly in recent weeks. This decline in interest is likely related to the token's disappointing price performance.

In fact, Notcoin (NOT) is experiencing a significant decline. Prices fell about 34% in the last month. So what are the future Notcoin price predictions? Come on, check out this article!

After being one of the top players among the 100 largest cryptocurrencies, NOT's value has fallen by 34.2%. However, instead of buying the dip, these crypto holders apparently chose to abandon the project.

Investors Flee Notcoin

On August 19, the price of Notcoin jumped to $0.011 (around IDR 165,000). This rise fueled speculation that the token could maintain its rise. However, BeInCrypto's on-chain analysis found the cause behind this brief rise.

According to IntoTheBlock, the average holding time of coins traded on the Notcoin network has fallen by nearly 62% in the last week. Additionally, the volume of coins traded over the last 30 days has also decreased.

Balso: Binance Labs Invests in Corn to Increase Bitcoin's Utility in DeFi

The “Coins Holding Time” metric tracks how long a cryptocurrency is held before being sold or traded. When this metric rises, it indicates holders are reluctant to sell, which can lead to price stability or growth.

However, NOT's decreasing holding time indicates increasing selling pressure and reduced confidence in its short-term potential.

Blockchain analysis also reveals that retail investors are not the only ones selling NOT. The Bulls and Bears indicators show more bears than bulls, signaling increased selling activity.

In this context, bulls represent addresses that bought 1% of the total trading volume, while bears are those who sold 1% of the volume. If this trend continues, Notcoin may have a hard time recovering from the 30% drop.

Latest NOT Price Predictions

The technical analysis of Notcoin below highlights its failure to break through the bearish market structure. At the time of writing, the cryptocurrency is trading at $0.010 (around Rp. 155).

Additionally, the price is trying to reverse the 20-day EMA (blue) but remains well below the 50 EMA (yellow). EMA stands for Exponential Moving Average and measures the direction of a crypto trend over a certain period of time.

Also read: DOGS Listing Resigned! Fix August 26th or Got Checked Again?

When the price is above the EMA, the trend is bullish. But since NOT price is below the short to medium term indicators, the trend is bearish. Additionally, the formation of a death cross, indicated by the crossover of the longer EMA above the shorter one, lends credibility to the bearish bias.

Additionally, On Balance Volume (OBV), an indicator that measures buying and selling pressure, was flat. This shows that NOT lacks accumulation.

Unless Notcoin's market structure improves, the price of this cryptocurrency may fall to $0.0084 (around Rp. 130). However, if market participants deem it suitable to buy on the decline and the price rises above the 20 EMA, the trend may reverse. If so, the price of NOT could reach $0.012 (around Rp. 186).

That is the discussion regarding the latest Notcoin (NOT) predictions from Bittime. Keep following the latest updates on Notcoin and other crypto assets, only on Bittime, OK!

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure 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. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.