As the crypto market has witnessed a bullish reversal overnight, the altcoin segment is offering bullish entry opportunities. Amidst the rising altcoins, the NOT price prediction predicts a fresh breakout rally for a bullish rally ahead.
However, the intraday drop warns of a bullish failure if the overall trend momentum declines. Will the Notcoin price rally continue with a breakout run to surpass the psychological milestone of $0.050?
Is Notcoin Ready for a Breakout?
With a market cap of $1.645 billion, Notcoin (NOT) price is trading at $0.01605 with an intraday drop of 7.27%. The intraday drop comes after jumping 14.44% overnight to challenge the overhead trendline with an engulfing candle.
Trade view
With a bull cycle from the psychological support of $0.010, Notcoin is challenging the overhead supply for a breakout run. Despite the 70% in nine days, NOT price struggled to overcome the supply pressure on the descending trendline.
So 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 where the price does NOT cross above the trendline.
Technical indicators:
RSI: The daily RSI line crosses the center line, indicating an increase in underlying demand.
MACD:The merger of MACD and signal lines results in a bullish crossover and an increase in positive histograms.
The momentum indicators support the bulls and predict a continuation of the uptrend in the Notcoin (NOT) price.
Will the price NOT reach $0.050?
Despite a sideways shift in the trend, NOT price is teasing an inverse head and shoulders pattern with a neckline at $0.017. However, the recent rejection of the trendline warns of a bullish failure in Notcoin.
A breakout run may push the altcoin price to $0.031 by the end of July. Optimistically, the uptrend may continue to $0.045 or the 1.618 Fib level.
