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Will this Telegram coin be the next consolidated one?
The recent surge in Telegram Coins has put Notcoin (NOT) in the spotlight, and many people have started investing in it.
However, after a good run, the altcoin appears to be losing its momentum, and so do investors when it comes to the bull.
Notcoin is not recovering
Notcoin price is currently in a downtrend, and despite an attempt to get out of this situation, little has changed. The resulting shift in sentiment among NOT holders is now becoming much clearer.
However, the altcoin will be protected from falling below the $0.015 support as Telegram Coin’s short-term outlook is bullish.
The Moving Average Convergence Divergence (MACD) indicates that Notcoin is experiencing a bullish crossover in a short-term period. This technical signal typically suggests potential upward momentum as the MACD line crosses above the signal line, suggesting a possible increase in buying pressure and a positive change in the market sentiment for Notcoin.
Notcoin MACD. Source: Trading View
However, despite this optimistic indicator, investors remain pessimistic about a recovery. They are leaning towards a decline, as evidenced by the negative financing rate for the first time this month.
This negative financing rate implies that short contracts prevail in the market, with investors betting on a fall in prices rather than an increase. This reflects a bearish outlook despite the short-term bullish crossover indicated by the MACD.
See more information: How to buy Notcoin (NOT) and everything you need to know
So, as the altcoin advances, it may not witness a downgrade but a rally is completely out of the question.
NO Price Forecast: Preventing a Drop
For now, Notcoin price is safe from losing the critical support at $0.015. It will likely move sideways below $0.018 until it gains enough momentum to chart higher again.
The downtrend line that was NOT under there are weeks before the forgery takes effect again. If Telegram Coin breaches this line, the altcoin can expect a more bullish outcome.
See more information: Notcoin (NOT) Price Prediction 2024/2025/2030
However, if investors’ decision to remain pessimistic remains unchanged, there is a good probability that Notcoin may fall below the $0.015 support. Losing it would not only invalidate the bullish thesis but also mark lower lows NOT around $0.014 and $0.013.
Disclaimer
In line with the Confidence Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyIt is Disclaimers have been updated.