Markets
Notcoin Price Prediction: Bulls Aim for Extra Gains Despite Likely Pullback
- NOT’s midweek rally posted gains of +100% when corrected on the weekly charts.
- On-chain Notcoin holders have surpassed PEPE, SHIB and BONK holders.
Not money [NOT] it is up about 40% in the last 24 hours, with gains of more than 100% on the weekly chart. The recent explosive recovery has moved towards a parallel trend GameStop [GSTOP]on CoinMarketCap’s trending list on May 30th.
In a recent Notcoin price analysis relationship, AMBCrypto determined that the Telegram-based Web-3 gaming token could gain an additional 38%. The projection was validated but was NOT far from slowing down the rally according to the chart’s key technical indicators.
Notcoin Price Prediction: Will Bulls Push Further?
Source: NOT/USDT, TradingView
NOT has enjoyed strong buying pressure, as demonstrated by the bullish reading of the RSI (Relative Strength Index) indicator (74).
Furthermore, capital inflows have increased in NOT markets since May 28, as demonstrated by the strong rise above the average level of the Chaikin Money Flow (CMF) indicator.
Collectively, the readings paint bullish momentum for NOT price. Furthermore, the recovery above the 38.6% Fib level ($0.0095) has turned the market structure higher on the lower time frame, indicating that further upside may be likely.
In that case, NOT could make an additional 14% gain if it breaks out of its recent highest high at $0.012 (0% Fib level) in the next few hours or days.
However, liquidity heatmaps showed that a short pullback towards the 20-day EMA (exponential moving average) could not be reversed.
Source: Coinglass
Coinglass liquidation data showed that there were key liquidity clusters near $0.011 and $0.013 on the 24-hour chart.
Typically, market manipulation by market makers could induce a liquidity hunt for both levels, with the one closest and the one farthest from the current price level.
If that happens, NOT could reach $0.013 and drop slightly to $0.011 before attempting to break out of the recent high. Such a slight pullback could act as a discount buy for sidelined bulls as the derivatives market sent a bullish signal.
Light Not money [NOT] Price forecast 2024-2025
The massive increase in Open Interest (OI) has further cemented strong bullish sentiment for NOT in the derivatives markets. It shows that more capital has flowed into the NOT market, suggesting that most participants expect further price upside.
Source: Coinglass
Further positive price chart traction for the token could be likely after hitting a documentation 1.6 million users on-chain, surpassing even memecoins Shiba Inu [SHIB], Pepper [PEPE] AND Good [BONK].
Disclaimer: The information presented does not constitute financial, investment, business or other advice and represents solely the opinion of the writer.