Token

Notcoin

Delta

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-drive-not-token-price-up-by-30/" data-wpel-link="internal">Investors Drive NOT Token Price Up by 30%</a> 
Recently, the price of NOT, the native <a href="https://en.coin-turk.com/is-dogecoin-poised-for-a-major-rally/" data-wpel-link="internal">token</a> of the popular touch-to-win game Notcoin, increased by 30% in the last 24 hours. This rise occurred after the token hit its two-month low of $0.0082 on August 5th. Amidst all this, market participants continue to research whether NOT’s price will keep rising. So, what is happening with NOT amidst these <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market price</a> movements? 
<h2 style="text-align: justify" id="notcoin-comments">Notcoin Comments</h2> 
Among the indicators that investors pay the most attention to is the long/short ratio. This ratio represents the proportion of long (buyers) to short (sellers) investors in the market. Through this ratio, one can understand the path investors are taking in the market. 
When there is an increase in the long/short ratio, it indicates that the number of long positions has increased compared to short positions, showing that most investors are focused on a price rise. Conversely, a decrease in the ratio can indicate a potential price drop. 
Data provided by Coinglass reveals that the ratio for NOT has increased, indicating that many investors are positioning themselves to profit from Notcoin’s ongoing upward movement. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377547" src="https://coin-turk.com/wp-content/uploads/2024/08/notcoin-3-coin-turk-com.png" alt="" width="499" height="134"> 
Additionally, on-chain data provided by Santiment shows an increase in Open Interest (OI). The OI <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data reveals</a> the total number of all open contracts in the market and fluctuates based on the positions opened. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377548" src="https://coin-turk.com/wp-content/uploads/2024/08/notcoin-2-coin-turk-com.png" alt="" width="502" height="186"> 
When there is a decrease in OI, it indicates that more liquidity is being added to the market by participants, meaning they are expanding their positions. However, a potential decrease reflects an increase in position closures. 
Recently, due to OI surpassing $220 million specifically for NOT, its price reached its highest level of $0.028. 
<h2 style="text-align: justify" id="how-much-will-not-be-worth">How Much Will NOT Be Worth?</h2> 
A general review shows that Notcoin is slowly moving away from a downward trend in its market structure. One of the indicators supporting this trend is the Cumulative Volume Delta (CVD). 
Briefly, the CVD indicator represents the net difference between buying and selling volume in the spot market. If the CVD indicator is negative, as seen on August 5th, it indicates a high selling rate. However, as of the time of writing, the CVD has turned positive, showing that market participants are buying the dip. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377549" src="https://coin-turk.com/wp-content/uploads/2024/08/notcoin-1-coin-turk-com.png" alt="" width="489" height="258"> 
If the buying volume continues to increase, the rise in the NOT token may continue. Increased buying pressure could raise NOT’s price from its current $0.0123 to $0.013. However, if another wave of decline occurs, the value could drop to $0.0085. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-drive-not-token-price-up-by-30/" data-wpel-link="internal">Investors Drive NOT Token Price Up by 30%</a></h5>
The post <a href="https://en.coin-turk.com/investors-drive-not-token-price-up-by-30/" data-wpel-link="internal">Investors Drive NOT Token Price Up by 30%</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Investors Drive NOT Token Price Up by 30%

Table of Contents

COINTURK NEWS

Other articles published on Aug 6, 2024

Infinity Hash: Transforming Passive Income with Community-Driven Mining

Robinhood suspends 24-hour trades for 8 hours

Hamster Kombat Builds New Gaming Platform to Extend $HMSTR Utility

Worldcoin Partners with Unlimit to Boost Global Crypto Accessibility

Pump.fun's High Failure Rate Revealed: 98.6% of Memecoins Never Launch

US Ethereum ETFs See Big Inflows as Markets Fluctuate

Join our free newsletter for daily crypto updates!