Notcoin (NOT) has seen a smashing 19.71% price gain over the last one day leading up to November 25 as it hit the peak of $0.0085. This is making crypto analysts predict that the token will be up for a major rally in the coming days.
The Telegram-based digital asset however has declined in the last few hours. This is vindicated by the sideways price movement shown by Notcoin recently after it broke out of a falling wedge two weeks ago.
The falling wedge is a bullish pattern which has two downward trend lines meeting as the price goes lower.
When the price charts display the descending wedge pattern it means a downtrend has happened and a reversal of the uptrend is likely to occur. However, if this pattern displays during an uptrend it means a temporary pause and the price will continue to rally soon. So, analysts are predicting NOT will surge again.
Since its launch in May, the cryptocurrency has grown more than 380%. However, it soon was engulfed by bearish sentiments that went over 5 months. The altcoin fell out of the falling wedge pattern as it registered a 76% price gain.
However, NOT was restricted in a range-bound market for more than 2 weeks now as it traded between $0.0070 and $0.0084.
According to the analysts, Notcoin is just gathering liquidity and momentum before surging again. The altcoin is likely to rally to $0.12, the highest NOT price since August.
However, crypto traders should be aware of the $0.010 resistance zone which the token failed to cross earlier in October.
The buoyancy of the crypto market courtesy the Trump's pro-crypto policy is likely to maintain the buying pressure for Notcoin along with other digital assets.
Also, since the altcoin has secured strategic partnerships like the Telegram Gaming Accelerator in collaboration with Helika Gaming, the token’s adoption levels are likely to surge further.
At press time, NOT was down 3.25% in the last 24 hours to trade at $0.008788, with the trading volume declining by 46.40% to reach $447.22 million and the market cap decreasing to $899.39 million.