Notcoin Declines 30%: Critical Support at $0.0150 Could Signal Short-Term Rebound

Notcoin ($NOT) experienced a significant decline, dropping 30% as highlighted by Crypto Patel, an analyst. Despite this downturn, traders found opportunities for profit, especially those who entered at the Point of Interest (POI) and exited at the first target price (TP1) of $0.0165. The current focus is on the +OB level at $0.0150, which could indicate a short-term upward movement before another potential drop.

Analyzing the Notcoin/USDT pair over a 2-hour timeframe reveals key trends and price levels. Initially, Notcoin experienced a strong uptrend, reaching a peak of approximately $0.034. This upward momentum reflected bullish market sentiment. However, the trend reversed, leading to a correction phase characterized by lower highs and lower lows, marking a shift to bearish sentiment.

The $0.022 level emerged as a significant Point of Interest (POI), acting as a resistance during a rally attempt. Despite efforts, the price failed to breach this resistance, resulting in further declines. Key support levels were identified around $0.015 and $0.012, marked by blue zones labeled as order blocks (+OB). The price currently hovers above the $0.015 support, with the $0.012 level serving as a potential lower support if the decline continues.

Source: Crypto Patel

The chart also shows a descending channel, initially marked by blue trend lines. The price briefly broke out of this channel before forming an ascending channel, indicated by green trend lines. This suggests a short-term recovery within an overarching bearish trend.

Future projections hint at a sharp decline towards the $0.012 support, followed by a possible rebound to the $0.022 resistance, indicating potential volatility and buying opportunities at lower support levels. At press time, Notcoin trades at $0.016035, with a 24-hour trading volume of $845,318,732. It has declined by 11.68% in the last 24 hours.