Notcoin (NOT) Price Prediction: Will the Telegram Coin Break Barriers and Reverse the Downtrend?

Notcoin's (NOT) price is continuing its long-standing downtrend after failing multiple breaches. The NOT holders are also seemingly giving up

Telegram Coin Notcoin (NOT) continues its downtrend after failing to breach several key levels.

The selling pressure on NOT has been increasing, with a rise in selling from serious investors being noted. This is evident from the increasing average holding time for recently transacted NOT tokens.

Notcoin's price has been noting the downturn largely because the hype surrounding Telegram coins is dying down. To worsen it, the broader market cues aren't particularly bullish either.

Notcoin's Relative Strength Index (RSI) indicates that the altcoin is struggling to build strong bullish momentum. This is because the indicator has remained stuck in the negative zone for some days now.

This suggests that the altcoin is not generating significant buying interest or upward movement at the moment.

Notcoin's price is currently at $0.0108, trading sideways for the last couple of days. After bouncing off the support floor at $0.0094, the Telegram coin was expected to close above $0.0130.

This would have enabled the altcoin to breach the downtrend line and put an end to the downtrend altogether. However, the trend has been ongoing for nearly two and a half months now, and it has denied the Telegram coin a shot at recovery.

Thus, if the aforementioned cues are considered, this downtrend might continue. But if the consolidation continues and NOT keeps above $0.0094, it would have a shot at escaping the downtrend.

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