Notcoin: Analyst Predicts Possible Drop to $0.0031 – Here’s Why
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- NOT has decreased by 20.12% over the past month.
- An analyst forecasts a potential drop for NOT to $0.0031 as bearish trends continue in the market.
In the last two weeks, Notcoin [NOT] has encountered significant selling pressure. During this period, NOT declined from a local peak of $0.01 to a low of $0.0049.
At the time of writing, Notcoin was valued at $0.0055, reflecting a 2.72% decline on daily charts. The memecoin has also seen decreases of 8.28% and 20.12% over weekly and monthly periods, respectively.
This prevailing downward trend has raised concerns among analysts regarding further declines in value. Well-known cryptocurrency analyst Ali Martinez hinted at a possible dip to $0.0031.
Market sentiment analysis
In his evaluation, Martinez pointed out that Notcoin has breached a critical support level and is on track for additional downturns.
Source: X ( p > div >
With these downward movements,
NOT could drop to
$0.
0031 if situation remains unchanged.
This is attributed to weakened demand for Notcoin since most liquidity in memecoins has shifted towards Trump coin.
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The lack of demand in the market combined with decreasing prices leads investors to feel pessimistic and retreat from their positions.
They seek alternatives elsewhere.
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Source: Santiment. div >
The sentiment surrounding Notcoin’s market has been largely negative over the week.
The sustained negative weighted sentiment for six continuous days underscores this trend. p >
As investor pessimism increases,
price charts for
NOT may illustrate additional losses.
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strong According
AskFX,
there exists substantial negative sentiment in the Notcoin marketplace.
CoinGlass (19659018) Primero details clearly suggest that this bearish mentality manifests through investigative shorts taken by most investors.
Coinglass indicates that
51 % are engaged in shorting within daily transactions.
Short positions signal bearish expectations among traders anticipating falls within pricing frameworks.
Short position activity highlights prevailing negative sentiments as traders expect declining prices.
