Notcoin (NOT) is currently testing a critical resistance level on Thursday, February 12, trying to break the major trendline on the 4-hour timeframe.
According to the crypto analyst Clifton Fx, this trendline has held its ground for a significant period, but the cryptocurrency has now gained enough momentum to challenge it.
Experts are closely monitoring the price action, as a breakout above this key resistance could spark a massive bullish rally.
Source: Clifton Fx X Post
If NOT manages to break this trendline with a strong momentum candle, the next target could be $0.00065. This would represent a notable price surge, driven by increasing buying interest and the possibility of a sustained upward movement.
Given the technical setup and growing market optimism, investors are positioning themselves for potential profits, making NOT one to watch in the short term.
Also Read: Notcoin Price Forecast: Rising Momentum Could Drive Price Toward $0.00290
According to TradingView, as of Thursday, February 12, NOT seems to lose momentum after February 5th, with a peak around 0.00044.
The price, located below the 20-period EMA, indicates strong bearish momentum. The lower Bollinger Band is constricting, suggesting a consolidation or further downtrend.
Source: TradingVIew
As of February 10, a recovery has begun, and its footing has been found at 0.00037. New signals are being given by fresh candlesticks, suggesting that a bounce may be experienced, aiming to test the level of 0.00039.
Crossing this level may indicate a bull turnaround. This level, and other levels, will be crucial in determining whether the trend will change or if the drifting will continue.
The Relative Strength Index (RSI) is at 46.76, which creates a picture of a neutral market. In a neutral market, the asset is neither leaning towards an overbought nor an oversold market, which means there is no strong move from bulls or bears.
The market is indecisive, and any move, be it up or down, will depend on the market’s future movements.
Source: TradingView
Currently, the MACD is indicating a soft bearish bend since the MACD line is going below the signal line. The histogram also agrees with this since it remains negative, with the bars staying below the zero line.
The bearish momentum is currently in the driver’s seat, but the trend is not strong. A change in the trend will require a positive change in the momentum.
Also Read: Notcoin Price Analysis: NOT Targets $0.004937 Amid Bearish Market Pressure
Also read: Bitcoin Breaches $66K Support as Standard Chartered Warns of Drop to $50K
