The price of Notcoin (NOT) is showing signs of strength that may enable it to break out of a two-month-long downtrend, despite not showcasing significant bullish momentum.
Notcoin's Moving Average Convergence Divergence (MACD) indicator is displaying green bars, indicating optimism. However, a lack of price growth has subdued this hope, even though there is enough momentum to break out of the downtrend.
Contributing to Notcoin's price struggle is the influence of short-term investors. Their dominance rose from 24% to 38% but has recently dropped to 23%, a change that could positively impact the altcoin's price.
A potential recovery rally for Notcoin could be initiated if the price flips $0.013 into support. This would enable a rise to potentially $0.015. However, if this breach fails, the asset may continue to consolidate between $0.013 and $0.009, prolonging the wait for investor profits.
