Notcoin Chart Looks ‘Interesting,’ Says Crypto Trader; Outlines Two Possible Scenarios for NOT Price
The price of Notcoin (NOT) has been moving sideways for the past 10 days, hinting at no particular direction. The consolidation follows days of downward slide inside a descending channel.
With Notcoin dip slowing down and the price trading outside the descending channel, one could easily call a bullish move. However, with the price not spiking as expected, there is a need for a more cautious approach.
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SwallowPremium, a TradingView analyst, weighed in on this interesting price action and saw two possible scenarios for Notcoin. The analyst’s views are as follows:
Based on his analysis, there are two possible scenarios for Notcoin:
The first scenario
The first scenario is bullish, with the hope that the price breaks above the upper resistance level of $0.017. Following that, the chart suggests we could see a spike back to $0.02.
The second scenario
There is also a possibility of a bearish breakdown below the 200 EMA. Breaking below the key level could make the price continue to drop until it reaches strong support.
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