- Notcoin volatility has significantly reduced since July, with its market cap also seeing a notable decline.
- Crypto analyst CobraVanguard expects a bullish breakout for Notcoin if the falling wedge pattern is confirmed.
Data from IntoTheBlock reveals that Bitcoin’s volatility has dropped dramatically since market tweaks in July. On-chain data revealed a step-like decline in this volatility, which has led to a more stable price environment for the token.
Along with the lowered volatility, Notcoin’s market cap has also plummeted drastically from over $2 billion to about $670 million.
Analyst Highlights Potential for Notcoin Breakout from Falling Wedge Pattern
One interesting analysis comes from CobraVanguard, a well-known crypto analyst on TradingView, who notes Notcoin is presently forming a Falling Wedge pattern on the daily time frame. Usually seen as positive, this trend is predicted to have the price rising should a breakthrough take place.
CobraVanguard underlined that the price can rise to the Fibonacci line of 0.618, or $0.012. Should the Fibonacci line break, it is not impossible for the price to go even more, maybe hitting $0.222.
Meanwhile, NOT is trading at about $0.006962 at the time of writing, it has slightly gained 0.14% over the last 24 hours. The token stays in a mid-term bearish structure even with this little rise. This has made some investors hesitant since the long-term future of NOT is yet unknown given the changes in the market.
Beside that, early this month, CNF also highlighted a scheme to burn DOGS and NOT tokens valued at $4 million. This token-burning event may drastically lower the circulating supply, therefore aggravating scarcity and maybe enhancing the market value of Notcoin.
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