Analysis
Notcoin price prediction: Bulls eye extra gains despite likely pullback
NOT had a bullish market structure on lower and higher time-frames – Can it extend the rally?
- NOT’s mid-week rally hit +100% gains when adjusted on the weekly charts.
- Notcoin on-chain holders surpassed PEPE, SHIB, and BONK holders.
Notcoin [NOT] was up about 40% in the past 24 hours, with over 100% gains in the weekly chart. The recent explosive upswing tipped to trend side by side with GameStop [GSTOP], on the CoinMarketCap trending list on 30th May.
In a recent Notcoin price analysis report, AMBCrypto established that the Telegram-based Web-3 gaming token could gain an extra 38%. The projection was validated but NOT was far from pulling the brakes on the rally per key technical chart indicators.
Notcoin price prediction: Will bulls push further?
Source: NOT/USDT, TradingView
NOT enjoyed strong buying pressure, as shown by the bullish reading of the RSI (Relative Strength Index) indicator (74).
Additionally, capital inflows surged in NOT markets from 28th May, as shown by the sharp climb above the average level of the Chaikin Money Flow (CMF) indicator.
Collectively, the readings paint a bullish momentum for NOT’s price. Additionally, the upswing above the 38.6% Fib level ($0.0095) flipped the market structure bullish in the lower timeframe, denoting further upside could be likely.
If so, NOT could tuck an extra 14% gain if it clears its recent higher high at $0.012 (0% Fib level) in the next few hours or days.
However, liquidity heatmaps showed that a short pullback towards the near 20-day EMA (exponential moving average) couldn’t be overruled.
Source: Coinglass
Coinglass liquidation data showed that there were key liquidity clusters near $0.011 and $0.013 on the 24-hour chart.
Typically, market manipulation by market makers could tip a liquidity hunt for both levels, with the closest then the furthest from the current price level.
If so, NOT could hit $0.013 and ease slightly to $0.011 before attempting to clear the recent high. Such a slight pullback could act as a discounted buy for sidelined bulls as the derivatives market flashed bullish signal.
Read Notcoin [NOT] Price Prediction 2024-2025
The massive surge in Open Interest (OI) further cemented a strong bullish sentiment for NOT in the derivatives markets. It shows more capital flowed into NOT’s market, suggesting that most participants expect further price rally.
Source: Coinglass
Further positive price chart traction for the token could be likely after hitting a record 1.6 million in on-chain users, surpassing even memecoins like Shiba Inu [SHIB], Pepe [PEPE] and Bonk [BONK].
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
