Over the past 24 hours, Notcoin (NOT) has shown a consolidation pattern with some attempts to regain lost ground. Traders closely watch the price action to determine whether the cryptocurrency will break out of its current range. The price chart presents an intriguing setup that could lead to significant movements in the coming hours.
Navigating the Moving Averages
The 1-hour chart for Notcoin showcases its battle with several key moving averages. The 200 EMA, sitting at $0.00885, remains a crucial resistance level that the price has been unable to penetrate. Below it, the 100 EMA is positioned at $0.00842, acting as a shorter-term resistance that the token is testing.
On the downside, the 50 EMA ($0.00826) and 20 EMA ($0.00819) offer support. Notcoin briefly dipped below these levels before recovering to $0.00833, indicating some buying interest. If the price can hold above these EMAs, there is a chance for further upward movement.
Related article: 24-Hours Price Analysis: Toncoin (TON) Battles Resistance at $5.551 as Bulls Attempt a Reversal: What to Expect in the Coming Day
ASO Signals Cautious Optimism
The Average Sentiment Oscillator (ASO) indicator suggests cautious optimism, showing a slight bullish bias. With the blue line crossing above the red, this could be an early sign of a potential reversal. The current readings, 52.51297 and 47.48703, indicate that bullish momentum is slowly building but still lacks significant strength.
Key Levels to Watch
For the next 24 hours, your attention should be on the 200 EMA resistance at $0.00885. A successful breakout above this level could open the door to further gains, with the next target around $0.00900. Conversely, failure to break past the resistance might result in a retest of the $0.00800 support area.
Traders, stay vigilant. The market sentiment is fragile. The Average Sentiment Oscillator indicates that bulls are attempting to regain control, but the price action near the EMAs will be crucial in determining the next move.
