- NOT has surged by 14.05% over the past day.
- An analyst eyed a new ATH of $0.12 after breaching the consolidation range.
Over the past month, Notcoin [NOT] has experienced sustained gains on its price charts. During this period, the altcoin has seen strong upward momentum.
At press time, Notcoin was trading at $0.008588. This marked a 14.05% rise on daily charts. Over the same timer, trading volume has surged by 130.68% to $403.29 million.
Equally, the altcoin has surged by 14.79% on weekly charts and 13.03% on monthly charts.
Despite these massive pumps, the altcoin remains 70.7% below its ATH. However, the current market conditions amidst massive gains have left analysts talking over NOT’s trajectory.
One of them is Ali Martinez, who has predicted $0.12 as the next price level, citing a breakout from the falling wedge.
NOT’s market sentiment
In his analysis, Martinez posited that, since breaking out of a falling wedge, NOT has been consolidating for the past two weeks.
Source: X
According to him, this consolidation phase has allowed the altcoin to build a strong momentum that will propel it for further gains on price charts.
Through increased buying activity and funds inflow, the liquidity required for an uptrend is now in place. Therefore, based on his premise, NOT will hit $0.12.
What NOT charts suggest
While the analysis provided above by Martinez offers a promising outlook, it’s essential to counter-check other indicators and determine what they say.
For starters, AMBCrypto’s analysis shows that Notcoin’s buyers are in control and the altcoin is experiencing a strong upward momentum.
Source: Tradingview
We can see this since the MACD line is comfortably above its signal line and histogram. When MACD is set like this, it implies that an asset is seeing an upward price pressure, and the current trend will continue.
This momentum was further evidenced by RVGI, which has made a bullish crossover in the last 24 hours.
Source: Coinglass
Looking further, Notcoin’s Open Interest has surged by 20% to hit a 3-month high of $145.03. When Open Interest rises, it implies that investors are bullish and are actively opening new positions.
A rise in funds inflow through new positions usually precedes a price increase.
Source: Santiment
Additionally, the Funding Rate aggregated by exchange has remained positive for the past week. We can interpret this as a signal that these new positions are mostly long.
Most investors were betting on prices to rise and were even paying a fee to hold their positions.
Read Notcoin’s [NOT] Price Prediction 2024–2025
Notcoin is currently in a bullish wave and it is enjoying positive sentiment. With bullish momentum continually building, NOT could see more gains on price charts.
Therefore, if these prevailing conditions are maintained, NOT will hit $0.00992 in the short term. A breakout from here will strengthen the altcoin to reach $0.012.
