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The Notcoin price has plunged 11% in the last 24 hours to trade at $0.008782 as of 7:30 a.m. EST on a 12% surge in trading volume to $154 million.
This positions Notcoin as the biggest loser among the top 100 cryptocurrencies by market capitalization, according to CoinMarketCap.
Notcoin Price Faces Resistance Within A Bearish Channel
The NOT/USD daily chart shows a clear downtrend as the price moves within a well-defined bearish channel. This channel is characterized by consistent lower highs and lower lows, indicating sustained selling pressure.
The price is currently trading near the lower boundary of the channel, which aligns with a significant support zone around $0.00700 to $0.00750. This support zone has been tested multiple times, suggesting strong buyer interest at this level.
NOTUSD Analysis Source: Dextools.io
The 50-period Simple Moving Average (SMA), currently around $0.01153, and the 200-period SMA, are both trending downward, confirming the overall bearish sentiment in the market.
The price remains below these moving averages, highlighting that bears are still in control, and the 50 SMA is acting as a dynamic resistance level.
The Moving Average Convergence Divergence (MACD) indicator shows bearish momentum, with both the MACD line and signal line below the zero line.
However, the decreasing negative histogram bars suggest that bearish momentum might be weakening, potentially signaling a reversal or at least a temporary pause in the downtrend.
The Relative Strength Index (RSI) is at 33.54, approaching the oversold territory, which typically occurs below 30.
This indicates that the selling pressure may start to ease, and buyers might look for an opportunity to enter the market.
Notcoin Price May Rebound On The Support Zone
If the support zone between $0.00700 and $0.00750 holds, the price could see a rebound toward the upper boundary of the bearish channel.
A successful breakout above the 50 SMA, currently around $0.01153, would be a strong bullish signal, potentially pushing the price toward the next resistance level near the $0.01500 target price, as indicated on the chart.
However, if the price fails to hold the current support zone and breaks below $0.00700, the downtrend is likely to continue, possibly leading to new lows.
Traders should watch for a break below this level as it would signal further bearish continuation.
Could Shiba Shootout (SHIBASHOOT) Be The Next Crypto To Explode?
As NOT traders gear up for a possible rally, the Shiba Shootout (SHIBASHOOT) ICO has stormed past $1 million in funds raised.
According to crypto analyst and YouTuber Crypto Zeus, with over 78K subscribers, SHIBASHOOT may explode 100X after its launch.
Shiba Shootout transports players to the lively town of Shiba Gulch, where they engage in intense gunfights as Shiba Inu-themed cowboys, earning SHIBASHOOT tokens along the way. This play-to-earn game combines thrilling gameplay with real rewards, making it more than just a fun experience.
Beyond its engaging premise, Shiba Shootout is building a robust and growing ecosystem.
Early adopters can already explore a simplified version of the game on Google Play and the Apple App Store, offering a sneak peek into its potential and setting the stage for what’s to come.
$SHIBASHOOT isn’t your average memecoin. 💯
It combines innovation and strategy with a Wild West theme. 🤩
Join us for fun events and a clear path to value! 🚀 pic.twitter.com/JW1vRcBbu1
— shibashootout (@shibashootout) August 26, 2024
The game also features a referral program where players can invite friends and earn tokens for both themselves and their recruits, adding an extra layer of rewards.
Operating with a DAO-like model, Shiba Shootout hosts Token Governance Roundups, allowing all SHIBASHOOT holders to participate in voting on important project decisions.
For those interested in boosting returns, the staking option offers an impressive 874% annual yield.
SHIBASHOOT tokens are currently available at $0.0201 each through the official website’s buy widget. With prices set to increase in less than 5 days, buy soon for the lowest possible price.
Buy SHIBASHOOT tokens here using ETH, USDT, or bank card.
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