Notcoin (NOT) has been making a recovery from a recent drawdown, with investors supporting the altcoin to potentially see further gains if it breaches a crucial resistance level. The funding rate for NOT has been consistently positive, indicating a strong bullish sentiment among traders. The upward trend in the funding rate reflects growing confidence in the market and investors’ optimism in Notcoin’s potential. Additionally, the Relative Strength Index (RSI) is currently above the neutral line, indicating a surge in buying pressure and further supporting the ongoing price rise.
The combination of the positive funding rate and elevated RSI suggests that more investors are purchasing Notcoin and supporting bullish momentum. Despite trading under the resistance of $0.01794, Notcoin has risen by 14% in the last 24 hours. The barrier at $0.01794 has been tested multiple times in the past month without success, but the current bullishness among investors may help NOT breach past this resistance level. If successful, this could lead to a rise to $0.02000, providing potential gains for investors.
However, if Notcoin fails to breach the resistance level again, its price could consolidate between $0.01794 and $0.01300. Losing the latter support level would invalidate the bullish thesis and could result in a loss of the recent gains made by the Telegram-based Coin. Investors are closely monitoring the price movements of NOT to see if it can overcome the resistance and continue its upward trajectory. The positive indicators from the funding rate and RSI are giving investors hope for further gains in the future.
In conclusion, Notcoin’s price recovery and bullish momentum are attracting investors who are eagerly anticipating a rise in the altcoin’s value. The positive funding rate and elevated RSI indicate growing confidence in the market and support for Notcoin’s price rise. If the altcoin can breach a crucial resistance level, it may see further gains and potentially reach old highs. However, failing to overcome this barrier could lead to a consolidation in price or even a loss of recent gains. Investors will continue to monitor Notcoin’s price movements to see if it can sustain its upward trend and deliver profits for those who believe in its potential.
