After an impressive initial rally, Notcoin (NOT) is grappling with market volatility that could threaten its progress. The token, which began as a Telegram tap-to-earn project, saw initial gains but soon declined in price.
By June, it reached an all-time high of $0.028 but is now trading at $0.0074, 78% below its peak. The 4-hour chart indicates resistance at $0.0085 and $0.0090, challenging short-term momentum.
According to the Money Flow Index (MFI), which measures buying and selling pressure, the token is currently oversold with a reading of 23.39, suggesting limited buying interest and potentially hindering a rebound.
The daily chart supports this view, indicating a failed attempt to surpass $0.012. The next support level is around $0.0072, with the MFI needing to dip below 20.00 for a possible rebound.
If a recovery happens, the price could rise to $0.0097, but significant challenges remain, making a full recovery difficult.
