- Not written by a demand zone with Oversold RSI, which indicates uncertainty despite a purchase signal.
- Lapping open interest and weak address activity Tempered recovery hopes.
Notcoin [NOT] Is struggling with considerable market pressure, trade at $ 0.004317 at the time of the press, a decrease of 13.16% in the last 24 hours.
Nevertheless, the TD -sequential indicator of the daily graph has flashed a purchase signal, which presents speculation of a potential trend removal.
Although this pattern often suggests the end of a downward trend, the wider market sentiment seems skeptical. Can the signal from this indicator lead to a sustainable rebound for not, or will the bears retain their hold?
How serious is the breakdown?
The price promotion has been consistently Beerarish, with the non -violation of his most important demand zone around $ 0.005662.
This critical level, which had previously acted as strong support, has now become resistance and further hinders all recovery attempts.
Moreover, the RSI was 26.24 at the time of the press, which indicates that it was not heavily sold over.
However, over -sold circumstances do not guarantee recovery and buyers must step aggressively to reverse the bearish momentum. Without a substantial volume and an outbreak above $ 0.005662, the downward trend can continue to exist.
Source: TradingView
Are address statistics signaling repair?
The address statistics show alarming falls, which expresses concern about user activity.
Active addresses fell by 58.73% last week, while new addresses have fallen by 67.91%, which does not emphasize the weakening involvement.
In addition, zero balance addresses have fallen by 63.28%, which shows that fewer transactions are being started. These figures reveal a lack of interest from retail participants, which can considerably delay every recovery.
However, Token can attract new interest when the positive momentum starts to build up in the upcoming sessions.
Source: Intotheblock
Do transaction patterns offer hope?
Transaction statistics offered mixed prospects, making traders uncertain. Transactions in the range of $ 100 $ 1,000 have risen by 46.58%, suggesting that interest of medium investors.
Likewise, transactions between $ 1,000 $ 10,000 increased by 21.92%, which may reflect, the accumulation by traders with a higher value.
However, microtransactions under $ 10 have fallen by 17.08%and the total transaction count remains weak. Although there are a bag of optimism, the general image therefore does not confirm a strong recovery.
Source: Intotheblock
Why is open interest shrinking?
Open interest in USD about trade fairs for not fell sharply to $ 20.62 million, which underlines a lack of speculative activity.
This decline shows that traders withdraw, which reflects the uncertainty about the future price movements of NOT.
Moreover, reduced open interest also suggested that price fluctuations may not attract considerable attention in the short term unless a large catalyst arises.
Source: Santiment
Read notcoin’s [NOT] Price forecast 2024–2025
Can Notcoin be back?
Despite technical indicators, it is not for considerable challenges that indicate a potential reversal. Falling address activity, mixed transaction patterns and reduced open interest all point to Beerarish sentiment.
Although a rebound is possible if buyers benefit from over -sold circumstances, sustainable recovery seems unlikely without strong volume and renewed market confidence.
