Notcoin’s price is presently constrained by a two-and-a-half-month-old downward trend, which is characterized by a sideways movement.
The price of Telegram Coin Notcoin (NOT) is persisting in its long-standing downward trend following the failure of numerous intrusions.
The fact that more serious buyers are selling NOT shows that people who own the bot token seem to be giving up on it too.
The drawdown in Notcoin’s price is primarily due to the fact that the excitement surrounding Telegram coins is diminishing. Additionally, the broader market signals are not particularly bullish, which serves to exacerbate the situation. The Relative Strength Index (RSI) of Notcoin suggests that the altcoin is experiencing difficulty in establishing a robust bullish momentum.
This is due to the fact that the indicator has been in the negative zone for several days. This implies that the altcoin is not currently experiencing substantial upward movement or purchasing interest.
Furthermore, the average holding time for NOT tokens that were recently transacted has increased from approximately two weeks to one month. Investor conviction decreases as holding time increases. Investors demonstrate diminished confidence in their potential profits as they dispose of tokens that have been reserved for an extended period.
The protracted holding period of these transacted coins is indicative of the increasing level of uncertainty among serious investors. These investors typically delay their actions until more favorable market conditions arise. Consequently, their initial actions may indicate a decline in confidence in the altcoin’s long-term prospects.
Notcoin’s price has been fluctuating between $0.0108 and $0.0108 over the past few days. There was anticipation that the Telegram coin would surpass $0.0130 after rebounding from the support floor at $0.0094.
This would have allowed the altcoin to surpass the downtrend line and terminate the downtrend entirely. Nevertheless, the Telegram coin has been unable to recuperate due to the trend that has persisted for nearly two and a half months.
In light of the aforementioned indicators, it is feasible that this downward trajectory persists. However, it would have a chance of escaping the downtrend if the consolidation persists and does not exceed $0.0094.
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