Analyst Predicts Conditions for Notcoin (NOT) 'Strong Bullish' Price Rally: Highlights Key Levels to Watch

Crypto analyst, melikatrader94 made a price analysis of Notcoin (NOT), describing where the price is likely heading next. This is following yesterday's 30% recovery after the price dropped by 50%.

Cryptocurrency prices have been on a roller coaster ride this year, and Notcoin (NOT) has been no exception. The coin’s price dropped by 50% over the past week, but it has since recovered 30%. So, where is the NOT price likely heading next?

Here’s a price analysis of Notcoin (NOT) by a crypto analyst, melikatrader94.

Notcoin price analysis: bullish scenario

The price of Notcoin has been following a descending wedge pattern, which could lead to a bullish reversal. The price has consistently been making lower lows and lower highs, but it is now approaching the bottom line of the wedge.

This indicates a possible breakout if the buying pressure continues to increase. The price recently touched the bottom of the wedge, which could indicate a potential support zone where buyers might be present.

As the price continues to move, it is now approaching a resistance zone marked in gray on the chart. A close above this area could trigger a move higher toward the top line of the wedge, around the $0.0145 level.

Potential scenarios for NOT price movement

If the NOT price closes above the gray resistance area on the chart, we could see an upward move to the top line of the wedge. However, if it fails to close above this area, it might continue to trade within the wedge or test the last major support level again.

A breakout from the top trendline of the wedge will be interpreted as a strong bullish signal, which could lead to a significant upward move.

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