Notcoin (NOT) Price Prediction 2022: Will NOT Regain Its Footing Above $0.02?

It has been a good time for Notcoin [NOT] bulls. The breakout past the trendline resistance was maintained, but a range formation developed too.

Notcoin [NOT] began the week in the green after a breakout from the trendline resistance on 6 July. However, a closer examination of the technicals revealed a possibility of short-term losses.

Highlighted on the chart in purple was a range formation that NOT has traded within since Monday, 8 July. The range extended from $0.0145 to $0.0175 with the mid-range level at $0.16. This level was recently flipped to resistance.

At press time, the RSI was at 53 and barely hanging on to its perch above the neutral 50. Here, the inference would be that momentum was neutral but could see a negative swing, especially if the price falls below the $0.156-level.

Despite the breakout past the trendline resistance (orange) on 6 July, the OBV has done little to recover from the downtrend it has been on throughout July. This can be seen as another sign that buying pressure has been weak and short-term losses are likely.🎜

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