Notcoin (NOT) has been trending under a descending resistance line since July 20, trading at $0.0072. Its value dropped by 40%, but the market sentiment appears to be shifting positively.
The Chaikin Money Flow (CMF) indicator for Notcoin shows an upward trend, forming a bullish divergence even as the price declined by 7% over the week. This suggests potential price rebound as buyers may enter the market.
Additionally, NOT's positive funding rate since September 12 indicates market optimism. With a funding rate of 0.007%, traders are paying premiums for long positions, showing bullish sentiment.
The Parabolic Stop and Reverse (SAR) indicator further supports this outlook, signaling a strong bullish trend. If this momentum continues, NOT could break the descending trend line and hit resistance at $0.011, possibly reaching $0.015 later.
However, rising selling pressure could invalidate this bullish outlook, potentially pushing NOT to revisit its low of $0.0050.
