P2E Gamefi

Is Now the Right Time to Buy?

Listed on the Binance exchange on May 16th, Notcoin (NOT) has made its way into Coinpedia Markets’ Top 100 crypto-list, with a market cap that has surged to over $927 million. This cryptocurrency quickly caught the attention of investors due to its increased news coverage and social media activity. NOT has been performing in line with meme coins, with some expecting it to reach the $1 mark while others remain uncertain about this volatile cryptocurrency. Is now the right time to invest in this coin, or should investors wait for corrections? Let’s delve into the details.

What do technical analysis have to say about Notcoin? The current price action follows an upward channel pattern, with the price surging to $0.037 upon launch before correcting to the current price of $0.009, resulting in a weekly surge of 68.5%. The key resistance level is at $0.010, and investors should wait for Notcoin to break above this level. Critical support zones are identified at $0.004800 and $0.005100, presenting a good buying opportunity if reached. The 1-hour chart shows increasing selling pressure as indicated by the ‘On Balance Volume (OBV)’ indicator, which reflects the direction of selling and buying pressure.

Will Notcoin reach $1? Considering its real-time use case as a rewarding asset for players of the Telegram Tap-to-Earn game, NOT is expected to bounce back from a short correction and potentially rally to around $0.2. However, surpassing this level will require significant social attention and an increase in game players on the Telegram app. In the current scenario, investors should monitor the lower support zones at $0.004800 and $0.005100, as well as the higher resistance level at $0.1, to make an informed decision on entering the market.

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