After a 30% surge in NOTCoin Price, it appears that this digital currency is gearing up for another upward rally. According to data from onchain, should this rally materialize, many current holders who have been at a loss may break even or turn profitable.
Just a week ago, NOTCoin was fluctuating around $0.0073, but at the time of writing, this digital currency has surged to about $0.0094. In this article, we delve into the analysis of the recent growth in NOTCoin Price and examine the potential trajectory of this currency in the coming days.
NOTCoin Price Primed for Further Upside
The recent price surge of NOTCoin can be attributed to the improved activities within its blockchain ecosystem. As of the time of writing, the number of active addresses in NOTCoin has increased by 35% over the past seven days, a significant figure.
Active addresses serve as a good indicator of user interaction within a blockchain network, and when they rise, it indicates widespread user engagement with a digital currency. Conversely, a decrease in active addresses signifies lesser user participation.
Alongside active addresses, the number of zero-balance addresses in NOTCoin has also seen a 90% increase, with new addresses trending upwards.
If the current trend persists, NOTCoin could see another 30% increase to $0.012. According to the In/Out of Money index, this surge could place 23,848 addresses, holding over 62 billion NOT tokens, in profit.
These holders acquired NOTCoin at prices ranging from $0.0095 to $0.012. Therefore, if the $0.012 resistance level is retested, the 62 billion tokens at the current loss would be worth over $700 million.
Projection for NOTCoin Price in the Coming Days
NOTCoin has recently attempted to break above $0.011 but selling pressure has kept it at current levels. However, considering the Parabolic SAR indicator, the upward trend is not yet concluded.
Parabolic SAR is a technical indicator used to determine the trend of an asset. When the dots are below the price, it indicates an uptrend. Conversely, dots above suggest a potential price correction. Furthermore, the MACD indicator, which measures price momentum, remains positive and supports the continuation of the uptrend.
Based on Fibonacci levels, NOTCoin could see another 30% increase to $0.012 within a few weeks. However, if traders take profits and selling pressure increases, this digital currency could decline to $0.0082.
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