Notcoin has dropped in price by over 8%, now trading at around $0.0019. This drop is happening while the whole crypto market is struggling, with big players like Bitcoin and Ethereum also losing value.
Even with the price falling, more people are trading Notcoin. The daily trading volume has increased by over 18%, now totaling approximately $30.35 million. This means that even though the price is going down, a lot of people are still actively buying and selling it.
Earlier in the day, Notcoin’s price was up, but then sellers took over and pushed the price down.
What the Technicals Are Saying
To understand why Notcoin’s price is falling, we can look at some key indicators:
- MACD (Moving Average Convergence Divergence): This is a tool that shows if a trend is bullish (going up) or bearish (going down). Right now, the MACD is in a bearish position, suggesting that the price will likely continue to fall.
- The Chaikin Money Flow (CMF) is a tool that analyzes the amount of money flowing into or out of a stock. A negative number, like Notcoin’s current CMF of -0.21, means that more money is leaving the asset than coming in. This shows there is strong selling pressure.
- The Relative Strength Index (RSI) is a tool that shows how quickly a stock’s price is rising or falling. Notcoin’s RSI is at 37.20, which is in the bearish zone. If the RSI drops below 30, it means the asset is “oversold” and could be ready for a price rebound, but for now, it shows weak momentum.
What Could Happen Next?
- If the price keeps falling: Notcoin might drop to its next key support level at $0.001963. If it can’t hold there, it could fall even further, potentially to its previous low of $0.001957.
- If the price starts to recover: If more buyers come in, the price could rise to the next resistance level at $0.001975. If it breaks past this, it might continue to climb, possibly reaching $0.001981.
In short, Notcoin is currently in a tough spot, pushed down by a weak overall crypto market and negative technical signals. While the high trading volume shows a lot of activity, the indicators suggest that sellers are in control for now.
