The recent analysis of Notcoin (NOT), shared by crypto analyst Ali Charts, suggests a potential rally of 12.50%. This rally is due to a bullish breakout from a falling wedge pattern on the hourly chart.Â
Notcoin (NOT) appears to be breaking out of a falling wedge formation, based on the chart that Ali shared. As prices move inside two downward-sloping trend lines, the falling wedge pattern, a widely recognized bullish chart formation occurs.
On the chart, the price of NOT has been declining within this wedge pattern since late September, forming lower highs and lower lows. A breakout from this formation could signal the end of the bearish trend, with the price shifting toward upward momentum.Â
Ali’s analysis points to a 12.50% upswing from the breakout point, which occurred around $0.008813 on October 1st.
Expert Forecasts a 12.50% Upswing
Ali Chart predicts a potential 12.50% rally for NOT, with a target price of approximately $0.009914. This prediction is based on a technique for estimating possible gains after a breakout: measuring the height of the wedge.Â
Should the breakout be sustained, it might signal bullish momentum and lead to more price increases. Besides, if the price holds above the wedge’s upper trend line, this bullish pattern could see more traders entering the market, potentially driving the price higher.
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Additional Analysis from Other Experts
Another notable chart analysis came from X user @Manofbitcoin, who also shared insights on Notcoin. According to their tweet, the price has reached an ideal reversal target.Â
The user also added a 61.8% Fibonacci retracement level to the chart, indicating that if NOT breaks below this level, the formation may fail to complete five waves up from the lows. They also noted the possibility of a diagonal pattern, though this is considered less reliable.
With both analysts highlighting different aspects of the chart, the general consensus remains cautiously optimistic. Ali Chart’s prediction of a 12.50% upswing and @Manofbitcoin’s analysis provide important insights for traders watching Notcoin’s next price moves.Â
However, as with any market predictions, traders are advised to watch key support and resistance levels to determine the strength of the breakout.
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