Notcoin

Million

Rise

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/notcoin-gains-stability-after-significant-rise/" data-wpel-link="internal">Notcoin Gains Stability After Significant Rise</a><br></p>
<p style="text-align: justify"><strong>Notcoin (NOT)</strong> appears to be stabilizing on the daily chart after a significant rise. Notcoin’s price has been declining since last month’s surge, where many <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> took profits. The increasing bearish trend in the short-term timeframe indicates potential signs of a downtrend. The Relative Strength Index (RSI) is moving towards the bearish zone, well below the neutral line.</p> 
<h2 style="text-align: justify" id="technical-indicators-in-not">Technical Indicators in NOT</h2> 
<p style="text-align: justify">The Relative Strength Index (RSI) measures the magnitude of recent price changes to evaluate overbought or oversold conditions in a token. Readings above 70 generally indicate overbought conditions, while readings below 30 indicate oversold conditions. Since the RSI is in a downtrend, the price may also show a bearish trend.</p> 
<p style="text-align: justify">Secondly, investors prefer to liquidate their risky assets. The <strong>Telegram</strong>-based token indicates that millions have withdrawn from open positions in the futures market. Open interest refers to the total number of outstanding derivative contracts, such as options or futures, that have not yet been settled.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360985 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/NOT-1.jpg" alt="" width="753" height="342"></p> 
<h2 id="80-million-dollar-transaction-in-not">80 Million Dollar Transaction in NOT</h2> 
<p style="text-align: justify">Increasing open positions generally indicate rising market participation, providing insights into market liquidity and the strength of price trends. Over the past three days, more than 80 million dollars have been traded from open positions, and this amount has dropped to 209 million dollars. Considering the above <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, it is likely that <strong>Notcoin</strong> will witness a price drop. The Telegram-based token has already fallen from $0.023 to $0.018 at the time of writing.</p> 
<p style="text-align: justify">The <a href="https://en.coin-turk.com/polygon-labs-recognized-in-times-top-100-influential-companies-2023/" data-wpel-link="internal">altcoin</a> stands above the critical support of $0.017, but a drop below this level seems likely. This subsequent drop could potentially send <strong>NOT</strong> to $0.013. This situation could erase almost all of the 94% increase recorded during the rise at the beginning of June. However, if Notcoin’s price prevents a collapse and rebounds from $0.017, it could recover recent losses. A possible rise could send NOT to $0.020, and surpassing the $0.023 resistance could invalidate the bearish thesis.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/notcoin-gains-stability-after-significant-rise/" data-wpel-link="internal">Notcoin Gains Stability After Significant Rise</a></h5>

Notcoin Gains Stability After Significant Rise

Table of Contents

COINTURK NEWS

Other articles published on Jun 10, 2024

Weekly Price Review: MANTRA, ORDI, XMR, STX, JASMY

Using MAR Mining Platform to Easily Earn $1,000 a Day in 2024

McDonald's Singapore Revolutionizes Customer Experience with 'My Happy Place' Metaverse Launch

BEFE in June: Preparing for an Imminent Market Rally

Top 4 Heavyweight Events This Week That Could Impact Bitcoin

Ripple CEO Slams Dogecoin, ‘Not A Good Thing’ For The Crypto Industry

Join our free newsletter for daily crypto updates!