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- $NOT surged 76.25% after a descending wedge breakout, reaching $0.0121 in a strong 29-day rally.
- MACD bullish crossover and RSI at 60.49 signal positive momentum with room for further upward movement.
- The $0.0081 support level stabilizes pullbacks, while resistance near $0.012 provides a target for traders.
Cryptocurrency analyst Ali has highlighted a significant breakout for Notcoin ($NOT), which occurred after 29 days of consolidation. The breakout after that had a descending wedge pattern, signaling potential reversals in price trends. Prices surged by 76.25%, moving from $0.0056 to a high of $0.0121 which is a bullish shift.
Descending Wedge Sparks Bullish Momentum
The descending wedge formed between July and early November, showcasing lower highs and lows. This consolidation reflected sustained bearish pressure. However, mid-November marked a turning point as prices broke above the upper trendline. Buyers seized control, driving a sharp rally.
Source: Ali
Additionally, the breakout coincided with increased volatility and heightened market activity. This surge was supported by a robust 29-day upward trajectory, with $NOT hitting a peak of $0.0121. The green zone on the chart highlighted the profitable movement, while a red zone depicted the stop-loss area below the wedge.
Technical Indicators Suggest Continued Uptrend
Significantly, the price remains steady above $0.009, consolidating near $0.0095 after a brief retracement. Notably, $0.0081 has served as a key support zone during pullbacks, providing stability for traders.
Moreover, the MACD indicator reveals a bullish crossover, with the MACD line above the signal line. Green histogram bars further emphasize strengthening momentum. The RSI stands at 60.49, indicating room for further upward movement without overbought conditions.
Source: CryptoRank
Trading volume spikes during pivotal price movements reinforce this bullish narrative. Together, these technical indicators confirm buyer dominance and suggest a sustained upward trend.
Optimism Amid Strengthening Momentum
The interplay of technical factors paints a promising picture for $NOT’s continued rally. With clear support at $0.0081 and resistance near $0.012, traders have defined zones to navigate. The bullish breakout, reinforced by robust technical indicators, signals further potential for $NOT in the short term.