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The Notcoin price plummeted over 7% in the last 24 hours to trade at $0.01559 as of 7:20 a.m. EST.
Despite the recent retracement, the NOT price is still up more than 12% on the weekly timeframe.
The Notcoin Price Resting On A Critical Support Level
4-hour chart for NOT/USD (Source: GeckoTerminal)
The Notcoin price is approaching the key support level at $0.01492. Breaking below this technical crutch in the coming 12 hours could put NOT at risk of plunging to as low as $0.01298 in the short term.
On the other hand, the Notcoin price remaining above the $0.01492 support level for the next 12 hours could invalidate the bearish thesis. In this alternative scenario, traders might identify NOT’s price as an opportunity to purchase the altcoin at a discount.
With this potential buy volume, the altcoin could begin to rise to the major resistance level at $0.01874. Enough bullish momentum might also lead to the Notcoin price flipping this technical barrier into support. This could then give NOT the technical foundation needed to potentially climb to $0.02264 in the following 24 hours.
The Notcoin Price Is About To Trigger A Major Bearish Technical Flag
Technical indicators on NOT’s 4-hour chart warn that the crypto is still at risk of falling through the course of the next trading day. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing negative signs.
Traders and investors will want to take note of the major bearish technical flag that is on the verge of being triggered by the MACD indicator. Over the past 24 hours, the MACD line has collapsed towards the MACD Signal line. Now, the former is attempting to cross below the latter.
Should the MACD line break below the MACD Signal line, it might indicate that the Notcoin price has entered a short-term bearish cycle.
RSI readings have declined throughout the past trading day as well. This could suggest diminishing buyer strength. If the RSI were to fall below the crucial 50 benchmark, it might signal a major bearish shift in NOT’s momentum.
While the Notcoin price attempts to hold on to the $0.01492 support, investors continue to flock to the booming Dogecoin derivative ICO called PlayDoge (PLAY), which has blasted past more than $5.5 million in funds raised.
Meme Coin Meets Booming Blockchain Gaming Sector
PlayDoge (PLAY) is the latest token looking to establish itself in the vibrant meme coin space. To achieve this, the project is bringing back a modern version of the 90s Tamagotchi game.
These digital pets were a global hit back in the day, with millions of units sold worldwide. Players rushed to get started raising their own digital companions. However, gameplay back then was fairly limited. The virtual pets would inevitably die, leaving players with no choice but to reboot their systems and start over.
Reviving this gaming sensation will be a big ask, but the PlayDoge team is more than up for the challenge. A frenzy could also erupt around the new iteration of the game because players will be able to earn rewards paid in PLAY for simply taking care of their pets.
By ensuring their digital animals get enough love, food and sleep, players can earn crypto rewards. Their earning potential is boosted by the fact that PlayDoge will come with mobile support as well. This means that players can interact with their pets while on the move to potentially earn additional rewards.
With its meme coin appeal and players’ ability to earn rewards, it is easy to see why renowned crypto YouTuber Jacob Bury is bullish on PlayDoge.
In a recent video, he analyzed the project’s potential to generate substantial returns for investors and said PLAY might be the best play-to-earn cryptos to buy now.
Anyone that wants to purchase the meme coin at this early stage can do so using the simple buy widget embedded on the project’s official website. Selling for $0.00517, PLAY can be bought using either ETH, BNB, USDT or bank card.
To reward buyers during its ICO stage, PlayDoge’s team is also offering presale investors access to a lucrative staking opportunity. Anyone who acquires the token now will become eligible for up to 93% in annual rewards if they stake their tokens.
Purchase and stake PLAY here for up to 93% in annual rewards.
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