Notcoin (NOT), a Web3-based asset that seems ready for a compelling breakthrough, has generated a lot of excitement in the cryptocurrency industry. There is a chance that this token will hit new all-time highs (ATHs), according to some analysts who have offered their observations.
With technical analysis pointing to a bullish trend, traders are watching to see if NOT’s price can overcome key resistance levels. Two key analysts, Nology and Market Spotter, have weighed in on the token’s future price action, providing important context for what could be a major move.
Nology, a well-regarded crypto analyst, recently shared a detailed update on the current status of NOT. According to his analysis, the correction phase appears to have ended, setting the stage for a bullish breakout. He presented two potential scenarios for the future price movement of Notcoin.
The first scenario assumes a simple impulse wave up, where the third wave matches the first wave in length. This structure indicates steady growth, with price targets set at the next resistance levels.
The second scenario involves a more aggressive nested 1-2 wave formation, suggesting that price acceleration could occur faster and push NOT to higher levels quickly. Both scenarios indicate a bullish trend, but Nology warns that the risk remains high due to market volatility.
Read Also: Analyst Warns SUI Price Might Face a Correction – Here’s Why
NOT Chart Analysis: Breakout from Long-Term Resistance Imminent
Market Spotter has echoed similar bullish sentiments in a separate tweet, pointing out that a breakout is happening on the daily chart. Since mid-June, NOT’s price has been trapped under a descending trendline, which has acted as a significant resistance.
After several attempts to breach this line, recent price action shows that the coin is finally breaking free.
The NOT chart analysis shows that if this breakout is confirmed with a strong close above the trendline, the price could target new all-time highs. Market Spotter suggests that NOT could experience a rapid price surge, surpassing its previous peaks as momentum builds.
Celebrate Dogecoin and Make Big Gains with Doge2014!
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Key Support and Resistance Zones in Focus
Support zones have played a crucial role in preventing the NOT price from falling further. Buyers have consistently stepped in at the lower support range, stabilizing the price and leading to consolidation. As the price prepares to challenge new resistance levels, such as 0.0095 USDT and 0.0111 USDT, traders will be watching closely for confirmation of the breakout.
Additionally, moving averages have turned favorable for NOT, with the price sitting above both key averages on the 4-hour chart. This technical factor reinforces the bullish outlook presented by the analysts.
Both analysts have advised caution, citing the high-risk nature of speculative Web3 tokens like Notcoin. Nology emphasized the importance of risk management, as even bullish scenarios can experience volatility. Despite the excitement surrounding the potential breakout, traders are encouraged to monitor the market carefully and adjust their strategies accordingly.
The coming days will be crucial in determining whether Notcoin’s price will reach the new all-time highs predicted or if market volatility will cause a shift in its trajectory.
Read Also: Expert Predicts This Next Dogwifat (WIF) Price Target
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
Source link
