With the crypto market witnessing a bullish reversal overnight, the altcoin segment offers bullish entry opportunities. Amidst the rising altcoins, the NOT price prediction teases a new breakout rally for a bullish rally ahead.
However, the intraday drop warns of a bullish failure if the overall trend momentum drops. Will the Notcoin price rally continue with a breakout run to surpass the $0.050 psychological milestone?
Notcoin Ready For Breakout Run?
With a market cap of $1.645 billion, the Notcoin (NOT) price trades at $0.01605 with an intraday drop of 7.27%. The intraday downfall comes after the 14.44% jump overnight to challenge the overhead trendline with an engulfing candle.
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With a bull cycle from the $0.010 psychological support, Notcoin challenges the overhead supply for a breakout run. Despite the 70% in nine days, the NOT price struggled to overcome the supply pressure at the descending trendline.
Thus, the lower high trend continues, and Notcoin warns of a reversal rally to the psychological cushion at $0.010. However, a broader market recovery could result in a breakout rally in NOT price crossing above the trendline.
Technical indicators:
RSI: The daily RSI line crosses above the halfway line, reflecting a surge in underlying demand.
MACD: The merger of MACD and signal lines results in a bullish crossover and a rise in positive histograms.
Hence, the momentum indicators bolster the bulls and tease an uptrend continuation in Notcoin (NOT) price.
Will NOT Price Hit $0.050?
Despite a sideways shift in trend, the NOT price teases an inverted head and shoulder pattern with a neckline at $0.017. However, the recent rejection from the trendline warns of a bullish failure in Notcoin.
A breakout run can propel the altcoin price to $0.031 by the end of July. Optimistically, the uptrend can continue to reach $0.045 or the 1.618 Fib level.
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