Over the past 30 days, the value of Notcoin (NOT) has dropped by 20%, leaving 71% of holders «out of the money.» While the coin remains significantly below its all-time highs, data analysis indicates that the current downtrend may shift to an uptrend, offering token holders an opportunity to mitigate their losses.
Easing of Selling Pressure: Recovery Opportunities
On-chain analysis of Notcoin shows a decrease in selling activity, a key sign of a potential trend reversal. One such indicator is the Money Flow Index (MFI), a technical oscillator that combines price and volume data. Currently, MFI for Notcoin is slowly rising, signaling increased buyer activity. If this trend continues, Notcoin may regain lost ground.
The prior price decline of Notcoin was tied to increased sales volume, but the situation appears to be shifting: the Token Holding Duration metric indicates that the quantity of coins held without movement has risen by 30% over the past week. Long-term holding generally suggests positive sentiment among holders and price growth potential. The increase in this metric strengthens the prospects for upward price movement.
Technical Analysis: Bullish «Falling Wedge» Pattern
Technical analysis supports positive expectations for Notcoin: the “falling wedge” pattern has formed on the daily chart, signaling a potential bullish reversal. This pattern develops as prices decline within converging trendlines, typically forecasting an upward breakout followed by a new uptrend. Notcoin is approaching the upper resistance line of the wedge at $0.0077.
If the price can break through this resistance with adequate trading volume, there is a 70% chance of growth, potentially lifting Notcoin to $0.012. However, if it bounces off this resistance, the downward movement could intensify, possibly pushing the price to $0.0062.
Conclusion
Notcoin stands on the cusp of a potential trend reversal, backed by positive shifts in on-chain metrics and the formation of the bullish «falling wedge» pattern. The rise in the MFI and increased token holding duration imply diminishing selling pressure, creating a foundation for possible price recovery.