Notcoin (NOT) has been on a rollercoaster ride recently. Despite defying the broader market decline just days ago, NOT’s price has fallen 12% in the last 24 hours, currently sitting at $0.017. This price dip is likely due to a decline in buying pressure, as indicated by the Relative Strength Index (RSI) dropping below 50 on the 4-hour chart. An RSI below 50 suggests bearish momentum, and if it continues to decrease, Notcoin price predictions could turn gloomy.
However, there are glimmers of hope for NOT bulls. The Weighted Sentiment managed, which gauges market perception, remains positive. This positive sentiment could prevent further price correction and potentially push coin towards $0.021. Additionally, the project’s team recently announced the end of their coin airdrop program. Unclaimed tokens will be burned, reducing the total circulation of coin and potentially making it scarcer in the future, a factor that could fuel a bullish price prediction.
Interestingly, despite the recent price dip, traders seem confident in a coin price recovery. The Funding Rate, a metric indicating sentiment among traders, is currently positive. This suggests that long positions are bullish on NOT, and if buying pressure increases in the spot market, Notcoin’s price prediction could surpass previous targets.
Overall, NOT finds itself in a tug-of-war between bearish momentum and positive sentiment. While the short-term outlook might be uncertain, the project’s team taking steps to reduce token circulation and continued bullish sentiment from traders are positive signs for NOT’s long-term potential.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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