The Telegram-based Notcoin token has been making waves since it was introduced to the crypto market a few months ago. Following the market decline, it staged one of the strongest recoveries, rising over 50% in a single day. Given its bullish tendencies, expectations around the altcoin is that it will continue to rise, with one crypto analyst predicting how far the Notcoin price could go from here.
Notcoin Price Could Rise To $0.018
In an analysis posted on TradingView, a crypto analyst who goes by “The57Trader” has proposed a bullish scenario for Notcoin. In this case, the altcoin is expected to continue to rise, with a price surge toward its current all-time high levels.
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The crypto analyst points out that the Notcoin price has actually formed a bullish flag pattern, which forms the basis for this prediction. However, like with all bullish formations, there are levels that the altcoin must hold in order for it to confirm the rally.
In this case, that level is the $0.016 area, and it serves as a support for the Notcoin price through market fluctuations. Now, if the altcoin is able to hold this level, then the price could continue to fly, with targets at $0.01731 and $0.01846.
However, on the chance that the Notcoin price is unable to hold this level, then the price decline is expected to continue. The target in this case is place at $0.01478, which is around a 15% decline from the support level of $0.016.
NOT Breaks Below $0.016 Support
Holding the $0.016 support is important to the crypto analyst’s Notcoin price prediction. However, the altcoin has been unable to maintain this level. At the time of writing, the price had already fallen below the $0.016 price level once, suggesting an invalidation of this prediction.
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Going by the analysis, then from here, the Notcoin price could continue its decline. A crash from here would no doubt be gut-wrenching for investors, but given the altcoin’s past performances following crashes, it is possible that this decline would not last long.
However, so far, the Notcoin price has still continued to skirt around the $0.016 level, suggesting that bulls are still in the game. However, if the Bitcoin price continues to decline and drag the crypto market down with it, then the altcoin could see further crashes.
For now, the price has recovered above $0.0163 once again, but posting 1.06% losses in the last day, according to data from Coinmarketcap. It is one of the only coins recording losses in the last 24 hours following the Bitcoin recovery above $60,000.
Featured image created with Dall.E, chart from Tradingview.com
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