Crypto Analyst Says Telegram-Based Notcoin Is Ready To Fly, Here’s How High
July 16 2024 - 5:00PM
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The Telegram-based Notcoin token has been making waves since it was
introduced to the crypto market a few months ago. Following the
market decline, it staged one of the strongest recoveries, rising
over 50% in a single day. Given its bullish tendencies,
expectations around the altcoin is that it will continue to rise,
with one crypto analyst predicting how far the Notcoin price could
go from here. Notcoin Price Could Rise To $0.018 In an analysis
posted on TradingView, a crypto analyst who goes by “The57Trader”
has proposed a bullish scenario for Notcoin. In this case, the
altcoin is expected to continue to rise, with a price surge toward
its current all-time high levels. Related Reading: Ethereum Bulls
Gear Up For Recovery – Can Spot ETFs Push Price To New Highs? The
crypto analyst points out that the Notcoin price has actually
formed a bullish flag pattern, which forms the basis for this
prediction. However, like with all bullish formations, there are
levels that the altcoin must hold in order for it to confirm the
rally. In this case, that level is the $0.016 area, and it serves
as a support for the Notcoin price through market fluctuations.
Now, if the altcoin is able to hold this level, then the price
could continue to fly, with targets at $0.01731 and $0.01846.
However, on the chance that the Notcoin price is unable to hold
this level, then the price decline is expected to continue. The
target in this case is place at $0.01478, which is around a 15%
decline from the support level of $0.016. NOT Breaks Below $0.016
Support Holding the $0.016 support is important to the crypto
analyst’s Notcoin price prediction. However, the altcoin has been
unable to maintain this level. At the time of writing, the price
had already fallen below the $0.016 price level once, suggesting an
invalidation of this prediction. Related Reading: Analyst Says
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by the analysis, then from here, the Notcoin price could continue
its decline. A crash from here would no doubt be gut-wrenching for
investors, but given the altcoin’s past performances following
crashes, it is possible that this decline would not last long.
However, so far, the Notcoin price has still continued to skirt
around the $0.016 level, suggesting that bulls are still in the
game. However, if the Bitcoin price continues to decline and drag
the crypto market down with it, then the altcoin could see further
crashes. For now, the price has recovered above $0.0163 once again,
but posting 1.06% losses in the last day, according to data from
Coinmarketcap. It is one of the only coins recording losses in the
last 24 hours following the Bitcoin recovery above $60,000.
Featured image created with Dall.E, chart from Tradingview.com
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