Notcoin (NOT) has experienced a significant 52% decline over the last 90 days, leading some market participants to view it as a buying opportunity at discounted prices.
Although there is speculation that Notcoin could recover to $0.012, recent on-chain analysis indicates this is unlikely due to key market factors.
In June, Notcoin reached an all-time high of $0.028, driven by heightened activity in the derivatives market. At that time, Open Interest (OI) peaked above $200 million, signaling increased liquidity and trader involvement. However, OI has since dropped to $67.57 million, indicating reduced market liquidity.
Currently, NOT is trading at $0.0073, facing downward pressure due to the In/Out of Money Around Price (IOMAP) analysis. The IOMAP data shows the token encounters significant resistance at $0.0076, with many addresses holding tokens at a loss.
On September 14, Notcoin briefly rose to $0.0080 before facing resistance. The Relative Strength Index (RSI) has declined to 37.54, suggesting a bearish outlook. If this trend continues, NOT could fall below $0.0071 and potentially drop to $0.0066 unless buyers intervene.
