Notcoin (NOT) has experienced a challenging 24-hour period, dipping by 4.90% to $0.008441. Despite occasional bullish attempts, the overall trend remains bearish, and the token is battling to break above key resistance levels.

EMAs Indicate Strong Resistance

The Exponential Moving Averages (EMAs) are providing substantial resistance. The 20 EMA at $0.00860, the 50 EMA at $0.00874, and the 100 EMA at $0.00900 are all stacked above the current price, creating a ceiling that the bulls are struggling to breach. The EMAs are descending, reinforcing the notion that sellers are in control.

This bearish configuration of the EMAs signals that Notcoin’s price could remain suppressed unless there is a significant bullish breakout above the $0.00900 level. A sustained move above this level would be required for the trend to shift in favour of the bulls.

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Support Holds, But for How Long?

On the downside, $0.00841 acts as a critical support level. This area has held up in recent trading sessions, but the bearish momentum suggests that this support may be tested again soon. If $0.00841 is breached, Notcoin could head towards $0.00800, potentially triggering a larger selloff.

However, if this support holds and bulls can build momentum, we might see a consolidation phase before the next move. Traders should monitor volume and price action near this support zone to gauge the likelihood of either a breakdown or a recovery.

Conclusion: A Bearish Outlook Prevails

Currently, the outlook for Notcoin remains bearish. The EMAs suggest continued downward pressure and the support at $0.00841 is critical to avoiding a further decline. Bulls will likely face an uphill battle until the price can break above the EMA resistance levels. The bears are in control for now, and traders should remain cautious, looking for signs of strength or weakness in the coming hours.