Toncoin and Notcoin Price Analysis: Will This Recovery Reclaim the Lost Levels of Last Week?

The broader market remains volatile, with the BTC price back under the $60K mark. Amid this, the volatility increases for the Toncoin and Notcoin with Parel Durov’s case.

Cryptocurrency prices remain highly volatile, and the recent development in the Toncoin and Notcoin markets is directly linked to the Parel Durov case.

As Durov paid a bail amount of $5.56 Million and stepped out, both altcoins showcased a momentary positive trend.

However, will this recovery be sufficient to reclaim the lost levels of last week? Let’s analyze the price movements and technical indicators to uncover the potential trajectories for TON and NOT.

Analyzing Toncoin Price Movements

After a substantial crash over the weekend, the TON price has managed to maintain a bullish grip above the $5 support level.

Crucially, the bullish dominance at the 200-day EMA has been compromised, leading to a downtick in the 50-day EMA.

This development, combined with the bullish resurgence following Durov’s bail and the bearish exhaustion, has pushed the TON price up by 7.80% over the last two days.

Currently, the TON price trades at $5.53, showcasing a Doji intraday candle despite a 98% surge in trading volume.

If a bullish trend materializes, we can anticipate a price hike towards the $6.11 mark, provided it breaches the 200-day EMA in the short term.

Analyzing Notcoin Price Movements

As the bearish trend extends, the NOT price continues to form a falling wedge on the daily chart.

The weekend correction for Notcoin aligns with the negative cycle within the pattern, testing the bottom support trendline.

Moreover, the MACD indicator highlights an intense bearish trend, while positive crossover chances are improving.

Over the past two days, the altcoin has risen by 7.10% and currently trades at $0.0090.

With a potential bull cycle on the horizon, the NOT price will encounter the overhead trendline and the 50-day EMA.

Approaching the bottleneck portion of the pattern, a decisive move is expected, ultimately breaking the pattern.

On the upside, resistance levels can be anticipated at $0.0116 pre-breakout and $0.01750 post-breakout.

Conversely, support levels are difficult to pinpoint due to the absence of significant price movement at lower levels. However, some cushion might be present at $0.0075 and $0.0045.

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