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Failure to hold $0.0091 support could lead to a 52% drop.
Notcoin could rise 44% if it holds the $0.0091 support level.
Weak buyer confidence and a 37.5% drop in open interest raise concerns.
Notcoin’s price dropped 52% since late July. Despite this, it bounced back to $0.012 on Tuesday. This 30% jump showed some recovery, but a 26% drop in trading volume raised concerns. The overall trend is still downward, making traders cautious about this rally.
Key Support and Resistance Levels
Since late July, Notcoin’s price has been falling. It went from $0.018 to a low of $0.0085. This 52% drop showed strong selling pressure. But the price found support at $0.0091, sparking a 93% rally in early July. As the market stabilized, Notcoin recovered to $0.012, increasing its market value to $1.274 billion.
A double-bottom pattern at $0.0091 support suggests a possible bounce. If this pattern holds, Notcoin could see a 44% increase before facing major resistance at $0.018. The RSI rose to 46%, showing increased demand at lower prices.
But open interest (OI) in Notcoin dropped a lot, from $142.15M to $88.8M in early August. This 37.5% decline in OI shows lower investor confidence and decreased market activity. The 20-day and 50-day Exponential Moving Averages (EMA) around $0.0133. This creates strong resistance, making it hard for buyers to push the price higher.
Potential Outcomes and Key Levels to Watch
If Notcoin breaks below the $0.0091 support, the bullish outlook will be invalidated. The price could then drop 52% to seek support at $0.0045. Traders should watch these key levels carefully to make informed decisions.
Looking Forward
Notcoin‘s price is trying to recover but faces strong resistance. The double-bottom pattern suggests a possible bounce. But weak buyer confidence and a drop in open interest raise concerns. Watch the $0.0091 support and $0.0133 resistance levels. Breaking these levels could lead to big gains or further losses. Stay alert and monitor these levels to make smart trading decisions.
