Notcoin surprised investors with an impressive 65% gain last week. The impressive gains raise questions about its future price movements. This article analyzes its potential price trajectories for the coming week.
Table of contents
Limited historical data
Notcoin began trading on May 16, making it relatively new to the cryptocurrency market. Limited historical data makes it difficult to make accurate predictions, but several key indicators provide valuable insight into potential price action.
Fibonacci Retracement Levels and Key Levels
From the June 2 high to the July 5 low, the 38.2% Fibonacci retracement coincides with the 61.8% retracement from the June 15 high to the July 5 low, both at $0.00169708.
In addition, the 50% correction from the May 23 low to the June 2 high coincides with these levels.
The confluence suggests a strong resistance level around $0.00169, which has also acted as support on several occasions. A break of this resistance could push Notcoin towards the $0.019 mark.
Harmonic Patterns and Price Points
The emerging alt bat harmonic pattern suggests a potential upside to the 0.0169-0.017 area, where significant resistance may be encountered. After testing this level, Notcoin may experience a decline, potentially falling to its strong support level at $0.0091543.
Strategy
- Long positions up to resistance level $0.0169.
- If Notcoin tests this resistance and fails to break through it, which will be confirmed by a candle close, open short positions to the $0.00915–$0.01 support range.
Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.
