Notcoin (NOT) has recently been in an impressive price form rising by 19.71% in the past day to reach a local peak of $0.0085. While the momentum on the Telegram-based cryptocurrency has cooled in the last few hours, popular crypto analyst Ali Martinez anticipates further price gains as shown by a recent bullish prediction.
Notcoin Preparing For Liftoff: Analyst
In an, Martinez gave a reassuring bullish prediction on Notcoin following the token’s sideways movement after breaking out of a falling wedge two weeks ago. Traditionally, the falling wedge is a bullish pattern characterized by two downward trend lines converging as the price moves lower.
When a descending wedge is observed after a downtrend, it signals a potential reversal to an uptrend but if this chart pattern forms during an uptrend, it indicates merely a pause before the price rise continues.
Notcoin gained by over 380% following its launch in May, but soon slipped in a bearish market that stretched over the following five months. On November 9, Martinez stated the altcoin had broken out of a falling wedge pattern setting up a potential 76% price gain.
However, Notcoin has remained in a range-bound market over the past two weeks oscillating between $0.0070 – $0.0084.
Commenting on this development, Ali Martinez remains confident of his bullish prediction stating that the altcoin is only gathering the necessary momentum and liquidity to launch a price upswing. The analyst’s price target remains $0.12 which will represent the token’s highest price level since August if attained.
Major Resistance Awaits NOT Bullish Rally
Amidst possibilities of a major price surge, investors should note that Notcoin will face a resistance zone at $0.010 which proved previously effective with a price rejection in October. However, Martinez’s positive projection remains highly possible considering the current robust bullish sentiments in the Notcoin market and general crypto community.
The digital asset market has been on the green side following the election of pro-crypto candidate Donald Trump as US President. With the anticipation of a crypto-friendly administration, investors are likely to retain buying pressure in major cryptocurrencies including Notcoin.
Moreover, Notcoin continues to secure strategic partnerships that can increase its adoption levels. These include its recent Telegram Gaming Accelerator . At the time of writing, NOT trades at $0.0081 reflecting gains of 4.36% and 5.66% in the past seven and thirty days respectively. In addition, altcoin’s daily trading volume is up by 138.51% and valued at $362.69 million.
