Losing more than 60% of its value in two months, Notcoin found support this week and increased a little. Due to a significant drop in buy volume, the price has remained stagnant as it decides on the next major move.
If not all, most gaming assets have reset back to their local bottom amid past months of a broader market correction. But NOT is still trading nicely above its launch price as it fell to a low of $0.0085 in the last drawback.
It held that low level as support and increased to $0.0127 on Tuesday. Since then, NOT has found it difficult to advance higher due to an extreme drop in volatility. It is now trading calmly at $0.012.
A drop from this trading level could trigger another drawdown capable of bringing the bears back into action from a short-term perspective.
On the other hand, if the crypto manages to advance higher with a weekly close above $0.013, we can expect more growth in the next few days. But technically, the bears are likely to regain control.
So far, Notcoin has traded more than $137 million in terms of volume as it lost 2% in the past 24 hours. While the gaming token remains bearish on the daily chart, it may post more losses if the supply level continues to increase.
NOT’s Key Level To Watch
Aside from the $0.0085, which stands as a weekly low, the $0.00915 level is considered the closest support for a potential drop. A dip below these supports could send the price to $0.0058 and $0.005.
In case of an increase, the $0.0145 level would be the next target to watch, followed by $0.018. Higher resistance levels to keep in mind are $0.0217 and $0.0266
Key Resistance Levels: $0.0145, $0.018, $0.0217
Key Support Levels: $0.00915, $0.0058, $0.005
- Spot Price: $0.0116
- Trend: Bearish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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