NOT Price Analysis: Nears Exhaustion Point, $0.005 Could Be a Key Entry Point for Long-Term Buyers

Notcoin is down 18% today following a notable drop below the $0.01 level. While the bulls are off the market, it is slowly reaching the bottom as the overall market outlook remains bearish on the daily chart.

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Notcoin price analysis: NOT risks dropping to launch price after a new low

Notcoin’s price encountered a notable drop below the $0.01 level on Monday. As a result, the bulls have been pushed out of the market. However, the coin is slowly reaching the bottom levels.

The daily chart shows a bearish outlook for the gaming token. Following this month’s recovery across the crypto space, Notcoin did not see much increase in the past few weeks. Instead, it entered a consolidation mode. This occurred due to an extreme shrink in volatility.

Prior to this volatility shrink, Notcoin’s price encountered a rejection at the $0.013 level in the second week. Afterward, the landscape changed yesterday following a sharp drop off the $0.012 level.

The coin lost momentum again after several failed attempts to push above the rejected price level. Now that the bears are back in the market, the price is showing weakness as it aims to break lower on the daily chart. However, there’s still hope for bullish if the monthly low stands firmly.

Observing the market from where it started to fall in June, the price seems to be nearing an exhaustion point on the daily chart. A dip below the launch price could send us to a new low.

Currently, there’s no room for buying. But we can expect a strong reaction when the price enters the $0.005 range – a key entry point for long-term buyers. A rebound from that range should trigger a major reversal in the trend as the future looks promising for this gaming token.

NOT’s Key Level To Watch

In the latest drops, the price is now facing the $0.0085 support – marked as the monthly low. Losing this support could fuel more bearishness to $0.0058 and potentially $0.005. Far below these price levels stand the $0.00078 – the launch price level.

As of now, NOT’s resistance is held at $0.012. If the price bounces back above this level, the higher resistance to watch for an increase would be $0.018, followed by $0.0217.

Key Resistance Levels: $0.0129, $0.018, $0.0217

Key Support Levels: $0.0085, $0.0058, $0.0008

Spot Price: $0.0093

Trend: Bearish

Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Notcoin price analysis: NOT risks dropping to launch price after a new low appeared first on NullTX.

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