• 17 July, 2024
Market News Price Analysis

Notcoin’s 80% Price Surge: Will It Overcome Resistance?

Notcoin (NOT) has experienced a remarkable surge, with its price skyrocketing over 80% in just three days, rising from $0.00912 to $0.1700. However, this meteoric rise hit resistance, causing a 20% drop. The 100 exponential moving average provided crucial support, preventing further decline. Currently, the 20 EMA is supporting the price.

Notcoin’s price performance reflects its commitment to community growth and project milestones. On July 5th, the official Notcoin X account announced that over 200 projects have launched on the platform, attracting 22.5 million users. Leveraging the Play-to-Earn model, Notcoin has built a robust community of 40 million players. The platform offers numerous Web3 projects, rewarding users for their interactions.

Moreover, Notcoin has announced the launch of the Telegram Gaming Accelerator in partnership with Helika Gaming. This initiative follows the success of Telegram blockchain-powered Mini Apps. The program aims to capitalize on the recent traction of Mini Apps and blockchain technology to enhance the gaming experience on the messaging platform.

Teaming up with Helika Gaming, Notcoin plans to extend its accelerator program specifically for game developers. The program, backed by $50 million in funding from Helika Accelerate, seeks to support game studios, mobile app developers, and indie creators. The partnership aims to create an engaging and innovative gaming experience that combines Telegram’s platform with The Open Network blockchain’s capabilities.

Notcoin (NOT) Eyes Potential 60% Gain After Bullish Breakout

The broader crypto market is experiencing negative sentiment, with Bitcoin’s trading volume falling by 30% in the last 24 hours. Notcoin is trading at $0.01577, up by 0.90% in the past 24 hours. On the weekly chart, NOT is up by 23% despite the monthly decline of 15%. The trading volume is down by 20% at $515 million, with a market cap of $1.61 billion. Notcoin’s highest recorded price was $0.0292 on June 2nd, currently down 45% from its all-time high.

The Moving Average Convergence Divergence (MACD) indicator indicates a potential price drop, but Notcoin’s future remains optimistic. The recent dip was attributed to the overall market conditions rather than fundamental weaknesses. 

Source: TradingView

Experts emphasize that continuous project developments and strong community support bolster Notcoin’s stability. Having surged 500% at the end of May, Notcoin’s current performance signals the start of a promising upward trajectory. Significant gains are expected as the project continues to grow and innovate.

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