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The Notcoin price has slumped 24% in the past month and 5% in the last 24 hours to trade at $0.01181 as of 7:30 a.m. EST on a 25% drop in trading volume to $313 million.
Notcoin Price Analysis: Can The Bulls Regain Momentum?
Notcoin (NOT) has been experiencing a downturn as bears capitalize on resistance at $0.02294, driving the price down in a corrective phase.
The battle between buyers and sellers has also led to the formation of the bullish pennant pattern, which indicates a potential positive trend reversal and rally ahead.
Despite the downturn, the bulls are showing resilience by preventing further gains for the bears, establishing a solid support level along the lower trendline of the pennant. If the bulls maintain this upward momentum from the support zone, they could push the price to reclaim the previous high of $0.02164.
NOTUSDT Chart By Tradingview.com
The current price trades below the 50-day simple moving average (SMA). If the price continues the uptrend from the pennant’s lower trendline, it could climb above the 50 day SMA. and 200 day SMA. This would strengthen bullish momentum above the pennant confirming a rally in favor of the bulls.
The relative strength index (RSI) has rebounded from the oversold level of 30 and is now hovering near the 50 midline, currently at 45. If buying pressure continues to build, it could push the price into the 70 overbought zone.
Moreover, the MACD indicator shows promising signs of a bullish turnaround just below the neutral level. The blue average line has crossed above the orange signal line, and the histogram has turned green slightly above the neutral line as well. These factors indicate support for a forthcoming bullish rally.
Notcoin Price Prediction: Is A Bullish Rally Imminent?
The bulls are poised to recover losses on the NOT price from the lower trendline of the wedge. If the price exceeds the 50-day and 200-day SMAs, it could enable the bulls to push it up to $0.02836, which will be an all-time high.
However, if the bulls fail to break through the 200-day SMA, which aligns with the upper boundary of the wedge, the bears might take over and drive the price below the current support level. In this case, the next support zone to monitor is $0.008649.
This New P2E Meme Coin Presale Zooms Past $6 Million
As traders rush to buy Notcoin, there’s also a surge in interest in the presale for PlayDoge (PLAY), which has seen an explosive increase with over $6 million in funds raised.
As a Dogecoin derivative, $PLAY is a meme coin centered around the Shiba Inu dog breed. But the similarities end there.
PlayDoge is a mobile play-to-earn (P2E) game that turns the DOGE meme into a Tamagotchi-style virtual pet, allowing players to earn $PLAY tokens.
POV: You the week after #Presale ends 🍝 🌅 pic.twitter.com/alc8nfsfMl
— PlayDoge (@PlayDogeGame) July 25, 2024
Combining 90s nostalgia with contemporary blockchain tech, the game showcases an 8-bit pixel Doge in a retro mobile format. Players can feed, play mini-games, and build a bond with their virtual pet, earning $PLAY tokens based on their performance.
PlayDoge runs on the BNB Chain, a blockchain created by Binance, the world’s largest cryptocurrency exchange. Beyond earning tokens through gameplay, players can also passively earn by staking $PLAY, which offers a compelling annual percentage yield (APY) of 76%.
An analyst on 99Bitcoins, a prominent YouTube channel with over 700K subscribers, says that $PLAY has the potential to surge 10X after its launch.
If you are interested, you can buy $PLAY tokens for $0.00527 each on the official website. With its price set to hike in less than 24 hours, buying now would guarantee the best deal.
Buy $PLAY here using BNB, USDT, or a bank card.
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