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Notcoin’s Breakout Sparks Bullish Sentiment, NOT Price To Rally 70%?

7 days ago
Bitcoin Ethereum News

Analyst Ali Martinez recently gave a positive outlook for Notcoin (NOT), citing that it is primed for a significant price increase. He explained that the cryptocurrency recently broke out of a falling wedge pattern, which could signal a possible bullish reversal.

Martinez projects a 76% price increase , targeting $0.012 for the coin. Despite facing steep declines before, NOT has shown signs of recovery and could be on the way to a breakout. The coin was already up more than 17% at the time of writing hovering around $0.0074. That further cemented optimism among crypto enthusiasts.

Analyst Forecasts 76% Price Increase for Notcoin

Crypto analyst Ali Martinez has issued a bullish forecast for Notcoin (NOT), predicting a potential 76% price surge to $0.012. This optimism is fueled by its recent breakout from a falling wedge pattern, a technical indicator often associated with bullish reversals.

Despite facing significant price declines in the past, NOT has shown resilience and is poised for a potential upward trajectory. At the time of writing, the coin had already rallied over 17%, trading around $0.0074, further bolstering bullish sentiment within the crypto community.

It now means that Notcoin’s wedge pattern is complete, and price action suggests a breakout, hence the likely beginning of a bullish trend. Analyst Ali Martinez pointed out the falling wedge as an “excellent risk-to-reward setup,” a pattern that often represents a consolidation phase before a breakout.

Martinez stated that after this breakout, NOT could rally to $0.012,  an earlier resistance level, thus presenting an excellent opportunity for short-term profit investors.

A move to and beyond this level would mark a significant price gain and suggest a revaluation of the asset if sustained. If it can break this resistance with solid volume,  it may set up a new support, enabling further upward movement.

$NOT Surges 17%: Bullish Outlook Gains Momentum

Ali’s analysis has become quite well-received by the market, with many investors now expecting a robust short-term turnaround for NOT. This confidence is reflected in the increased price volume over the last day. The more buyers who jump in, the more the price will break out of the predicted range.

Its approach to critical resistance levels, which could trigger a new trend for the token, creates much hype in the crypto community.

Having failed to break above the crucial level of $0.0063 for a very long period in a downtrend, Notcoin has jumped 17% in the last 24 hours to reach $0.0074. Optimistic investors believe this rally could finally be the breakthrough that shifts momentum toward the bulls.

Trading volume has also surged hand in glove with the appreciation in Notcoin’s price. According to market data, the 24-hour trading volume has jumped 163% to almost $340 million.

It seems that this period is favorable for many Telegram-based altcoins. Recently, TON has demonstrated resilience and strong investor confidence, despite recent market corrections. At the time of writing, it is experiencing a notable over 5% increase. This growth reflects growing optimism among traders and could signal a positive trend for the altcoin in the short term.

A surge in this nature of trading volume indicates growing investor interest in the possible breakout, as depicted by many investors opening positions. Volume spikes like this very often are the precursor to significant price movements, pointing at a shift in sentiment. If the price continues to increase, it may attract more buyers,  confirming Ali’s rally forecast of $0.012.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/notcoins-breakout-sparks-bullish-sentiment-not-price-to-rally-over-70/