- Notcoin has witnessed a huge surge in its trading volume.
- The NOT crypto was released just a few days ago.
Notcoin (NOT) is a digital asset in the Toncoin (TON) ecosystem, linked to a viral Telegram game with 35 million players.
Players earn NOT tokens by tapping their screens, which can be used in-game, traded on major exchanges, staked, and utilized for broader ecosystem activities.
Price Overview Chart of NOT | Source: CoinMarketCap
Despite being a new cryptocurrency in the global crypto market, Notcoin crypto has gained a position among the top 50 cryptocurrencies. It has an outstanding market presence, followed by a market cap dominance of 0.08%.
The market cap of Notcoin crypto has advanced by 7.5% in just the last 24 hours, and the crypto market cap value at press time is $2.037B.
The value of the derivatives traded volume for the crypto has advanced by 130%. This further results in a traded value of $1.374B, which is 67.29% of its market cap.
The following data further shows huge crypto liquidity, indicating traders’ massive engagement in the crypto.
What Does Notcoin Crypto Derivatives Indicate?
There is a surge of 18.5% in the crypto’s open interest, which shows an advance in the number of open positions in derivatives of Notcoin.
Notcoin Crypto Derivatives Liquidation Chart | Source: Coinglass
The derivatives volume of the Notcoin crypto has advanced by 136% in the last 24 hours from the press time. This shows a surge in the trading activity of derivatives in crypto.
Also, in the last 24 hours, a higher short liquidation of $3.86M is witnessed, showing buyers’ crypto dominance. Additionally, the long liquidation recorded for the crypto is worth $2.72M.
NOT Crypto Technical Analysis
The NOT crypto chart shows symptoms of a strong surge in the crypto trading price.
NOT Crypto 4H Price Chart | Source: TradingView
The price of the NOT crypto was trading in a strong downtrend, which led to a falling wedge pattern on the 4H chart. Despite this, the larger timeframes show the overall trend of bullish crypto.
The crypto price further has broken above the falling wedge pattern and has sustained the breakout followed by strong bullish candles.
After the breakout, the price further formed a higher high structure by sustaining above the previous swing highs.
NOT/USD Chart by TradingView.com
The NOT crypto price is trading above the 50-day EMA and has given a closing above the same. This shows that the price is strong and that it is getting the support of investors.
The price of crypto has also broken above the higher band of the Bollinger band on the 4H chart, which indicates a bullish breakout in the price.
The MACD and the signal line are trading in a golden cross and have advanced above the zero level. This is followed by bullish histograms formed on the 4H chart of the crypto.
The RSI has broken above the 50-level and sustained above the same. It further follows a breakout above the 14-day SMA. This shows bullish momentum in the trading price of the crypto.
Summary
Notcoin (NOT) has surged, breaking above a falling wedge pattern and maintaining bullish momentum.
Trading above the 50-day EMA, the Notcoin shows strong investor support. Derivatives volume and open interest have spiked, indicating high trader engagement. Bullish indicators include a golden cross in MACD, an RSI above 50, and a Bollinger Band breakout.
On continuation of the NOT crypto price surge, it might face resistance at the levels of $0.0220 and $0.0290. Also, the immediate support levels for the crypto are $0.0110 and $0.0150.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.