Exploring Notcoin’s Potential as it Forms a Falling Wedge Pattern 📉
Notcoin, a newcomer in the cryptocurrency market, has recently displayed a falling wedge pattern on its price chart. This technical pattern suggests a potential bullish reversal, drawing attention from traders and investors eager to understand its implications.
Analyzing Notcoin’s Market Outlook on Different Timeframes
On the 4-hour chart, Notcoin is trading above the 100-day Simple Moving Average (SMA) within a triangle pattern, indicating a possible continuation before a breakout. The RSI line below 50% hints at ongoing selling pressure, keeping the asset within the triangle.
Looking at the 1-day timeframe, Notcoin is retesting after a successful breakout above the wedge’s upper base. This retest, confirmed by the RSI dropping from overbought levels, suggests a potential bullish move in the near future.
Price Scenarios Following a Breakout 🚀
If Notcoin breaks above the wedge, it could target the $0.029405 resistance level before setting a new high. Conversely, a break below the wedge might lead to a descent towards the $0.011381 support level, with the possibility of testing lower levels on the chart.
At the time of writing, Notcoin’s price was at around $0.019, down by -1.13%, with a market capitalization exceeding $1.9 billion and a 24-hour trading volume surpassing $818 million.
Sources: Bitcoinist
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