Notcoin (NOT) Earmarks $0.021 as the Price Rebounded by 68% Amid a Recent Recovery Phase

Amid a recent recovery phase, Telegram's Notcoin (NOT) is now earmarking $0.021 as the price rebounded by 68%. Over the last three days, NOT rose to $0.0171 despite bearish sentiments in the crypto market.

Telegram’s native token Notcoin (NOT) has set its sights on the $0.021 price point as the token rallies by 68% amid a recent recovery phase. Despite the bearish sentiments in the crypto market, NOT has managed to rise to $0.0171 over the last three days.

With the recent recovery, interest in Notcoin has surged, which has played a key role in the altcoin’s impressive rebound.

From a technical perspective, Notcoin’s Relative Strength Index (RSI) is currently above the neutral line, indicating increased buying pressure from traders, as observed on TradingView. If this situation continues, we could see a further increment in NOT’s price soon.

Moreover, the funding rate, another crucial metric, is positive. A positive funding rate in the crypto space indicates an optimistic outlook from traders and investors. When the funding rate is negative, the opposite is true. In the case of Notcoin, the positive funding rate marks a shift from an earlier period of intensely negative rate. This change in perspective shows that investors are now anticipating future gains and, in a typical scenario, this could lead to further price rises for the token.

Our previous report highlighted NOT’s status among the top gainers in the market, which could be attributed to investors’ rising interest in the token. The Notcoin team also announced that over 200 initiatives have adopted the platform.

In addition to the altcoin’s resilience, recent ecosystem developments, such as partnerships, may have also attracted the attention of investors. One notable example is the integration of NOT tokens with the digital asset custody provider Cobo. As mentioned in our earlier post, this collaboration expands Notcoin’s offering, ensuring the token’s wide application for users.

Furthermore, Notcoin partnered with analytics company Helika to launch an incubator for upcoming Telegram games, called Telegram Gaming Accelerator. In a recent update, we covered that Notcoin and Helika aim to grow the micro meta by leveraging Telegram’s popularity.

NOT Eyes $0.0211

NOT has recovered from a 35% loss seen towards the June end, rising by 68% within the last three days. Notcoin’s next target now lies at the $0.0211 mark. For this to happen, the altcoin would require a breach of the resistance at $0.0179.

However, if this breach fails and investors decide to book profits, we could see a price withdrawal to $0.0130. Losing this support would invalidate the bullish expectations, sending NOT below $0.0100.

At the time of writing, NOT experienced a decline of 6.4% in the last 24 hours, now priced at $0.01538. The market cap also lost its value by a similar percentage to $1.6 billion, while the trading volume declined by 40% to $746 million.

The decline in trading volume suggests a reduction in selling pressure, indicating unwillingness from investors to sell in anticipation of higher prices ahead.🎜

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