Notcoin's NOT is again a top crypto gainer today after a 20% pump. The price is currently trading around $0.0076.
Cryptocurrency trader “World Of Charts” has shared a technical analysis on Notcoin (NOT) that shows a falling wedge pattern on the 4-hour chart. The analysis suggests that NOT could be preparing for a breakout.
After a 20% pump on Monday, Notcoin’s native token, NOT, is again among the top crypto gainers today. The price is currently trading around $0.0076.
World Of Charts shared the technical analysis on Twitter, highlighting the falling wedge pattern on the NOT price chart. The analysis shows that the price has been consolidating within converging trendlines, typically indicating a period of decreasing selling pressure.
The chart also shows a crucial support level around $0.0072, which has been preventing further price drops. On the upside, traders are watching the resistance level near $0.0078, which could be a key breakout point if breached.
According to the analysis, if NOT manages to break above the current resistance level, it could target the $0.0125 region. This would mark a significant move from current levels. However, it’s important to note that such projections are speculative in nature.
The recent price action suggests an accumulation phase, with the token consolidating within the wedge pattern. This period of consolidation could be setting the stage for the next major price movement, as markets often experience increased volatility following such patterns.
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