NotcoinLong
Notcoin Daily Chart (NOTUSD) Price Analysis – Potential Reversal
The chart shows a downtrend with Notcoin price currently trading at $0.00800102, forming a descending wedge pattern marked by the orange lines. This indicates that the price has been consolidating, but there’s potential for a breakout from this pattern, typically a bullish signal.
Key levels and patterns observed:
1. Weekly Fibonacci Zone: The price is currently in this support area, which could act as a strong base for an upward move.
2. Bullish Breakout Scenario: Two blue arrows project potential price movements. After a possible breakout above the wedge, we can anticipate a rally toward the next resistance zones.
First target at $0.01288067.
Second target at $0.01795970, representing the upper resistance level.
This analysis suggests that a breakout from the descending wedge could lead to a significant upside, with major resistance levels being in the $0.012 and $0.017 ranges. Traders should watch for confirmation of the breakout and monitor the Fibonacci zone for support in the event of a retest.
Key levels and patterns observed:
1. Weekly Fibonacci Zone: The price is currently in this support area, which could act as a strong base for an upward move.
2. Bullish Breakout Scenario: Two blue arrows project potential price movements. After a possible breakout above the wedge, we can anticipate a rally toward the next resistance zones.
First target at $0.01288067.
Second target at $0.01795970, representing the upper resistance level.
This analysis suggests that a breakout from the descending wedge could lead to a significant upside, with major resistance levels being in the $0.012 and $0.017 ranges. Traders should watch for confirmation of the breakout and monitor the Fibonacci zone for support in the event of a retest.
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