• 15 June, 2024
Market News Price Analysis

Notcoin, Injective, Polymesh Signal Potential Bullish Rallies: Analysis

Notcoin (NOT) has recently caught the attention of analysts, with Captain Faibik on X identifying a falling wedge formation on the 4-hour timeframe chart. According to Captain Faibik, should this wedge experience an upside breakout, a short-term bullish rally of up to 50% could be anticipated. 

This prediction comes as Notcoin’s price stands around $0.01851 at press time, reflecting a 3.2% increase over the last 24 hours despite an 11.4% decline over the past week. The trading volume for Notcoin in the past 24 hours is notably high at $912,968,165.39, with a market cap of $2,006,446,038, based on a circulating supply of 100 billion NOT.

In another update, Captain Faibik also highlighted a falling wedge upside breakout for Injective Protocol (INJ). The analyst suggests that this pattern, coupled with a successful retest, could signal an imminent substantial bullish rally. 

This technical analysis aligns with the broader market sentiment where falling wedge formations are generally considered bullish reversal patterns, potentially setting the stage for significant price movements in the near term.

ZAYK Charts, another analyst, has shared insights on Polymesh (POLYX), noting a symmetrical triangle breakout on the 12-hour timeframe. The breakout has been confirmed, and ZAYK Charts anticipates a bullish wave to follow. At press time, Polymesh is trading at $0.4651, which is a 5% increase over the past 24 hours and a notable 12.1% increase over the past week. The 24-hour trading volume for Polymesh is $59,431,213.28, and with a circulating supply of 1.1 billion POLYX, its market cap stands at $511,057,690.

Analysts Predict Major Altcoin Surge Following Current Accumulation

Notcoin’s falling wedge pattern and Polymesh’s symmetrical triangle breakout signal potential bullish trends, contingent on market responses and further technical validations. Traders and investors will be closely monitoring these developments, with trading volumes indicating heightened interest and activity in these cryptos. The anticipation of bullish rallies based on these technical analyses reflects a broader market strategy to capitalize on potential breakout patterns.

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