Notcoin price underwent a minor rise in value as trading activity intensified to a large extent. With this, the market participants have become more optimistic about the upcoming trend and expect the rally to trigger a fresh 50% rise soon. The trend remains within the bearish range and pretty distinct from the crucial range. Although the NOT prices have been among the top gainers, the token continues to grab the huge attention of the market participants.
Having stuck within a bearish trend, is there any possibility of a strong rebound?
The NOT price rally displays a hidden continuation of a bearish trend which has been overshadowed by the recent bullish upswing. The token has attracted more than $1 billion in volume in the past 24 hours, making it the top 11th traded token while its price is about to enter the top 50. However, after dropping from the highs of above $4 billion in market capitalization, is it still possible for the token to reclaim its position?
The short-term trade displays the price being stuck within a bearish descending trend, indicating the dominance of the bears. However, the stochRSI formation is displaying a diverse action as the price seems to be preparing for a breakout from the range. In the past couple of times, whenever the RSI has hit the lower range, the NOT price has reached the lower support of the channel. However, the levels have remained close to the upper resistance while the RSI has entered the oversold region.
Therefore, the Notcoin price is expected to consolidate for a few more hours within the same range and with a rebound in the RSI, the price could breach the upper resistance. This could lead the price towards $0.02, following an ascending consolidation. On the other hand, if the NOT price fails to break the channel in the next few hours, then it may form another lower high, signifying the swelling strength of the bears.
