Crypto Analyst Predicts Notcoin Price To Surge 76% — Here’s How
10 Novembre 2024 - 9:00AM
NEWSBTC
The Notcoin price has been in red-hot form in the past day, and a
popular crypto analyst on the X platform has offered an exciting
update on his bullish prognosis for the altcoin. Is The Price Of
NOT Making A Comeback? In a November 5 post on X, prominent crypto
pundit Ali Martinez put forward an interesting bullish prediction
for the price of Notcoin over the coming weeks. According to the
analyst, the Telegram-based altcoin is primed for a rally before
the close of 2025. This bullish projection is based on the
formation of a falling wedge pattern on the NOT daily price chart.
The falling wedge pattern is a technical analysis pattern that
often consists of two converging trend lines; one connecting the
price highs and lows. Related Reading: Chainlink Hits $13.5 For The
First Time Since July – Smart Money Accumulation? The wedge
formation, which could be of the rising or falling modality, can
signal the reversal or continuation of a price trend, respectively.
However, the signal depends on the direction in which a break out
of the wedge occurs. Specifically, the descending wedge
pattern is formed by prices sliding in a downward trend, and a
successful breach of the upper trend line would confirm a trend
reversal. On the other hand, a continuation signal can be spotted
if the price breaks beneath the falling wedge. As highlighted in
the chart above, the Notcoin price has been in a falling wedge
pattern over the past few months, suggesting that the downward
trend is losing momentum. However, Martinez noted that the altcoin
would need to breach a major resistance level at $0.007 to break
out of the wedge. In a November 9 update, the price of NOT appears
to not have only broken the $0.007 resistance but also out of the
falling wedge pattern. While this bodes well for the altcoin’s
price over the next couple of weeks, investors might want to watch
the close of the weekly candle above $0.07. If the next few weeks
do play out as Martinez has postulated, investors could see the
Notcoin price to among its highs of July. Martinez pinpointed
$0.012 as the target for the altcoin, which would represent a 78%
rally from the current price point. Notcoin Price At A Glance As of
this writing, the NOT token is valued at around $0.0076, reflecting
an almost 25% increase in the past 24 hours. This sudden burst of
bullish momentum places the Telegram-based token amongst the best
performers in the past day. Related Reading: Bitcoin Realized
Cap At All-Time High As Price Hits $77,000 For The First Time
Featured image from Pexels, chart from TradingView
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