- Over the past three days, the price of Telegram Coin Notcoin has seen a significant increase.
- The fact that the RSI is above the neutral line indicates that there is increasing purchasing pressure.
- As investors placed bets on possible profits, the financing rate moved from being extremely negative to positive.
- The price of Telegram Coin Notcoin (NOT), one of the few cryptocurrencies to record a recovery in recent days, was leading.
The cryptocurrency asset not only exceeded investors’ pessimistic forecasts, but it also changed their minds.
Notcoin Notices a Shift
Over the past few days, Notcoin’s price has surged significantly, reaching $0.0171. As a result, there was strong buying pressure, which increased. At present, the Relative Strength Index (RSI) of Notcoin is higher than the neutral line.
Given that more investors are expressing interest in buying the coin, this suggests that buying pressure is increasing.
Generally speaking, a higher RSI indicates that more investors are buying Notcoin. This increase in purchasing activity may result in more price appreciation if the trend holds.
Notcoin’s financing rate has also improved in addition to the good RSI. This change is noteworthy, particularly in the wake of a time when funding rates were extremely negative and had previously indicated a bleak outlook.
The fact that the financing rate is positive indicates that investors are now more upbeat about Notcoin’s prospects. This shift in opinion suggests that a lot of people are placing bets on possible profits, which might raise the coin’s value even higher.
NOT Forecasting Prices: Making Up Expenses
The previous three days have seen a 68% increase in the price of Notcoin, which has already recovered from its 35% decline at the end of June. The altcoin’s current aim is $0.0211, which calls for a breach of the resistance level at $0.0179.
A drop to $0.0130 is highly likely, though, if this breach fails and investors seek to book gains. Should this support disappear, the bullish thesis would be completely refuted, sending NOT below $0.0100.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
