- The volume of NOT increased to $1.37 Billion as the demand pushed up prices.
- Token appeared overbought indicating a potential fall to $0.016 in the charts
Itcoin [NOT] Defied the wider market “red period” As the price rose by 7.22% over the last 24 hour. CoinMarketCap reports that this occurred at a moment when Bitcoin [BTC] The slid down to $65,103 and then recovered slightly over $66,000.
Ethereum [ETH] Around the same time, Notcoin’s value dropped to $3381. Notcoin has performed well. nextThe top 2 cryptocurrencies have a correlation of 0 to 1.
As of the time of publication, NOT was trading at $0.020. The price of the token initially peaked at $0.022 in the charts on 14 June.
The TON is not a bullish sentiment.
Notcoin, a Telegram-related project, is also on the rise. Toncoin [TON] Join in the fun! AMBCrypto was able to join in a couple of weeks back. reported TON and NOT both followed the same trends.
The two seem to be aligned now, following the most recent increase in price.
We also discovered that the sentiment surrounding Notcoin was extremely bullish. AMBCrypto, for example, uses the weighted sentiment metric. observed On 13 June, the same reading was 0.178. At press time the reading was 0.617.
The significant rise within a relatively short time implies that comments online about NOT have been much more positive compared to those who are negative.
Notcoin has exceeded the $1 billion volume mark, in addition to the increase in price and bullish sentiment. Volume increased by 131% in 24 hours.
It is important to understand the trading volume in order to determine a cryptocurrencies price. The trading volume indicates whether market participants have an interest in a particular token.
A large volume moves in tandem with the a price increase, It suggests an increasing buying pressure. A spike that is followed by a fall in price indicates an increase in buying pressure.
Notcoin may drop in price later
The former was true for NOT. It is not likely that the volume of NOT would reach $4 billion as it did on 2 June when it hit a high price of $0.029
Relative Strength Index reflects this. The RSI measures price movement speed.
If the value is higher than 70 it indicates that an asset has been overbought. It is considered oversold when it falls below 30. Notcoin had a RSI of 74.27 on its daily chart.
To put it simply, the token was overbought. So, it is possible that the chart will begin to reverse. The price of NOT could drop to $0.016 over a period of a few weeks if this occurs.
If the market changes, then this prediction is invalidated. Not might be a good fit if prices start to go up across the board.
What’s the difference? NOT’s market cap in BTC terms
If this is the case, then the value of tokens could jump up to $0.022. The price of the token could be affected by any new developments and announcements made about the project.
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Source: ambcrypto.com