Will Notcoin Bounce Back For A 60% Breakout Rally Next Week?
The post Will Notcoin Bounce Back For A 60% Breakout Rally Next Week? appeared first on Coinpedia Fintech News
With a declining trend in the daily chart, the Notcoin price trend reveals a continuing lower high formation. Leading to a resistance trendline, keeping the bullish growth under check, as the correction spree in NOT price breaks under the 50D EMA.
However, the sudden overnight jump in the crypto market teases a potential bounce in Notcoin. Will a bullish reversal in the NOT price result in a breakout rally to hit the $0.031 mark?
Notcoin Price Performance
With a market cap of $1.442 billion, the NOT price trades at $0.01605 with an intraday rise or 4.56%. The bullish reversal teases a rounding bottom to challenge the overhead resistance trend line.
Furthermore, the NOT price teases an inverted shoulder pattern, with the resistance trendline acting as the neckline.
With a shift in the underlying sentiments the breakout chances for the Notcoin is rising. Further, the intraday bullish engulfing candle undermines the downfall a day before.
Technical indicators:
RSI: The daily RSI line under the 50% level teases a reversal. Meanwhile, the sideways trend during the downfall bolsters Notcoin’s upside chances.
MACD: The MACD and signal lines move sideways in the daily chart with increasing positive crossover chances. Hence, the momentum indicators bolster the bull run chances for the NOT price.
Will NOT Price Hit $0.030?
Despite the quick fall, the lateral shift in the NOT price trend teases rounding bottom reversal. Further, the inverted head and shoulder pattern will determine the upcoming rally in Notcoin.
A breakout run can pump the altcoin price higher to the $0.031 mark by the end of August. Optimistically, the uptrend can continue to reach $0.045 or the 1.618 Fib level.
