- The price of NOT has not remained stagnant near $0.12 as demand and inflows have leveled off.
- However, there is a risk of losing potential gains of +10% if $0.014 is retested.
In addition to the overall market recovery, tokens associated with Telegram and The Open Network (TON) have benefited from Toncoin’s listing on Binance. Notcoin [NOT], the clicker game, was no exception.
NOT saw a 15% increase, reaching $0.012 on the day of listing – August 8. However, the price has since stabilized. What lies ahead for this viral Telegram game?
NOT – Key levels to watch
Source: NOT/USDT, TradingView
The $0.01 mark has been a crucial support level for the past two months on the 12-hour chart. Bulls have been interested in this price point as it serves as both a bullish order block (OB) and aligns with the 76.8% Fib level.
Looking at the upside, the immediate targets for the bulls are the 61.8% Fib level ($0.014) and the 50% Fib level ($0.016). The 50% Fib level has acted as a significant short-term resistance, hindering further upward movement in July.
So, what’s next for NOT?
Currently, the price chart indicators show a neutral stance, with the RSI and CMF moving sideways around their average levels. This indicates a flattening of demand and inflows.
Nevertheless, there is a possibility of a push towards the immediate bullish target at 61.8% ($0.014), potentially resulting in a 10% gain.
The increase in Open Interest (OI) also supports the idea of further upside potential. OI rose by approximately 10%, climbing from $80 million to over $90 million on August 10. This influx of liquidity into NOT’s Futures market could fuel its recovery.
Source: Santiment
Despite the increase in Open Interest indicating overall bullish sentiment, the weighted sentiment for NOT has dropped into negative territory.
Previous instances of negative sentiment have hindered NOT’s price recovery, and a similar scenario could delay the retest of $0.014.
Read Notcoin Price Prediction 2024-2025
Source: Santiment
In summary, NOT has seen positive momentum due to both market recovery and interest in Telegram projects following the Toncoin listing on Binance. While a recovery and a retest of $0.014 are probable, negative sentiment over the weekend could delay this scenario.
Disclaimer: The information provided is the writer’s opinion and does not constitute financial, investment, trading, or other advice.
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