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Notcoin price has dropped by 11% in the last 24 hours. Trading at $0.008782 As of 7:30 a.m. ET, trading volumes were up 12% to $154 million.
This makes Notcoin the biggest loser among the top 100 cryptocurrencies by market cap, according to CoinMarketCap.
Notcoin price faces resistance inside a descending channel
The daily chart of NOT/USD is showing a clear bearish trend as the price moves within a well-defined downward channel. This channel is characterized by consistent lower highs and lower lows, indicating sustained selling pressure.
The price is currently trading near the lower bound of the channel, which is in line with an important support area around $0.00700 to $0.00750. This support area has been tested multiple times, indicating strong buyer interest at this level.
NOTUSD Analysis Source: Dextools.io
The 50-period simple moving average (SMA), which is currently around $0.01153, and the 200-period simple moving average are trending lower, confirming the overall bearish trend in the market.
The price remains below these moving averages, highlighting that the bears are still in control, and that the 50 SMA is acting as a dynamic resistance level.
The Moving Average Convergence Divergence (MACD) indicator indicates bearish momentum, with both the MACD line and the signal line below the zero line.
However, decreasing negative histogram bars indicate that the downward momentum may be weakening, which could signal a reversal or at least a temporary pause in the downtrend.
The Relative Strength Index (RSI) is at 33.54, approaching the oversold zone, which usually occurs below 30.
This indicates that selling pressure may be starting to ease, and buyers may be looking for an opportunity to enter the market.
Notcoin price may rise to the support zone
If the support zone between 0.00700 and 0.00750 holds, the price may witness a bounce towards the upper boundary of the descending channel.
A successful break above the 50 SMA, which is currently around $0.01153, would act as a strong bullish signal, which could push the price towards the next resistance level near the target price of $0.01500, as shown in the chart.
However, if the price fails to hold the current support area and drops below $0.00700, the downtrend is likely to continue, which could lead to fresh declines.
Traders should watch for any dip below this level as it may indicate a continuation of the downtrend.
Could Shiba Shootout (SHIBASHOOT) Become the Next Cryptocurrency to Explode?
With NOT traders preparing for a potential rally, SHIBASHOOT The amount of funds raised from the ICO has exceeded $1 million.
According to cryptocurrency analyst and YouTuber Crypto Zeus, with over 78k subscribers, SHIBASHOOT could explode 100x after its launch.
Shiba Shootout transports players to the vibrant town of Shiba Gulch, where they engage in intense gunfights as a Shiba Inu cowboy, earning SHIBASHOOT tokens along the way. This play-to-earn game combines exciting gameplay with real rewards, making it more than just a fun experience.
Besides its attractive concept, Shiba Shootout is building a strong and growing ecosystem.
Early adopters can already explore a simplified version of the game on Google Play and the Apple App Store, providing a sneak peek at its potential and paving the way for what’s to come.
$SHIBASHOOT is not just another memecoin. 💯
It combines innovation and strategy with a Wild West theme. 🤩
Join us for fun events and a clear path to value! 🚀 pic.twitter.com/JW1vRcBbu1
— Shiba Shootout (@shibashootout) August 26, 2024
The game also features a referral program where players can invite friends and earn tokens for themselves and their recruits, adding an extra layer of rewards.
Shiba Shootout operates using a DAO-like model, hosting token governance meetings, allowing all SHIBASHOOT holders to participate in voting on important project decisions.
For those interested in boosting returns, the share option offers an impressive 874% annual return.
SHIBASHOOT tokens are currently available at $0.0201 each through the official website’s buy tool. Since the price is set to rise in less than 5 days, buy soon at the lowest possible price.
Buy SHIBASHOOT tokens here using ETH, USDT or bank card.
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