Notcoin (NOT) Price Surges 26% Amid Breakout Speculation, Closely Tied to TON's Performance

Notcoin's (NOT) price has surged 26.24% over the past day, while the token's trading volume increased massively by 300.96%.

Notcoin (NOT) price up 26.24% in last day, trading volume up 300.96%

Notcoin’s (NOT) price has surged over the past day, with the token experiencing a 26.24% increase in value. This comes as NOT’s trading volume increased massively by 300.96%, indicating strong buying and selling activity. At press time, NOT is trading at $0.00772.

This sharp rise in price and trading volume comes amid speculation that NOT may be on the brink of a breakout from its long-standing downtrend, with its movement closely tied to the performance of TON, a project within the same ecosystem.

Notcoin Chart Analysis: Downtrend Breakout Signals Potential Reversal

A closer examination of the NOT chart reveals that the token is attempting to break out of a prolonged downward trend, which is depicted by a descending trendline that has been limiting its price movement. The breakout point, which is highlighted on the chart, shows that NOT’s price has moved above this trendline, suggesting a possible reversal or shift towards bullish momentum.

However, traders have identified two key entry points below the breakout level, which are marked as potential zones to accumulate, especially if a pullback occurs.

This breakout attempt comes after a period where NOT’s price remained significantly below its peak, currently trading at approximately 78% down from its all-time high (ATH). The last high, just before the breakout area, serves as an important resistance level. Clearing and sustaining above this level could confirm the start of an uptrend for NOT.

Support and Resistance Levels Provide Key Zones

In terms of technical indicators, a key support zone below the current price level has been established, which is marked by a purple region on the chart. This area has acted as a strong base in the past, providing support during previous price fluctuations.

The resistance levels, including the breakout point and last high, represent zones that NOT needs to clear to establish a sustained uptrend. These levels will be critical in determining the token’s ability to maintain its upward momentum.

Top analyst Crypto with Khan has commented on NOT’s recent movement, attributing its potential to a broader rally within the TON ecosystem. The analyst highlights the importance of gradual entries, advising investors to accumulate in parts to offset the risks associated with short-term corrections.

“Notcoin showing strength here, as TON ecosystem slowly starts to rally, and people might be looking at NOT now.”

Given that the market has been advancing with minimal correction, taking a phased entry approach helps protect against potential drops of 10% to 20%, which could impact investors who are not prepared for such corrections.

As one of the early projects in the TON ecosystem, NOT’s price movement could be influenced by any rally in TON itself. The tweet suggests that NOT’s performance may improve further once TON initiates a stronger upward trend. This correlation between the two tokens highlights the interconnected nature of projects within the same ecosystem, where one token’s momentum can positively impact others.

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