- NOT Coin down 20% this week; potential rebound on the horizon.
- RSI near oversold territory at 34, signaling possible price bounce.
- Bullish MACD crossover suggests upward momentum for NOT Coin.
Notcoin, the Telegram-based cryptocurrency, has tumbled more than 20% in the past week, but technical indicators suggest the digital asset could be nearing a rebound. Despite the recent decline, the cryptocurrency’s Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are signaling potential for an upward price movement.
The Relative Strength Index (RSI) for Notcoin on the 4-hour chart currently sits at 34, indicating that the asset is approaching oversold territory. This suggests the possibility of a price rebound if this trend continues. Typically, an RSI below 30 signifies an oversold condition, while an RSI above 70 indicates an overbought condition.
The Moving Average Convergence Divergence (MACD), depicted by the blue line, has crossed above the signal line (orange line), signaling a bullish crossover in the short term. This suggests potential upward momentum for Notcoin.
On the price front, Notcoin has been on a downtrend, losing over 20% in the weekly index. It is currently trading at $0.0146106, down 8% over the last 24 hours.
Given the RSI nearing oversold conditions and the MACD’s bullish crossover, Notcoin’s price appears poised for a potential rebound. However, traders need to monitor the key hurdle at $0.0200. Overcoming this resistance would confirm a bullish trend reversal, paving the way for further gains in the asset’s price action.
Conversely, if the price fails to hold above the current support at $0.0142, a fall toward the next support level at $0.0100 is possible. Additionally, traders should keep a close watch on the trading volume and broader market conditions to gauge the strength of any potential rebound.
Overall, Notcoin is currently displaying signs of potential upward momentum, supported by the bullish MACD crossover and near-oversold RSI levels. Key resistance at $0.0200 and support at $0.0142 will be crucial in determining the coin’s short-term price trajectory.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
