Notcoin's Dramatic Plunge: A Deep Dive into the 40% Decline

2024-06-26, 05:47

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1719380550sdfx.jpeg)
## [TL; DR]
During the first two weeks of June NOT recorded a 40% price drop.

Notcoin is a miniapp that exists on the Telegram social media app that enables people to earn through participating in various tasks.

If the Notcoin breaks out of the current range market it may enter into a bullish period.

## Introduction 
The prices of most cryptocurrencies have been depressed since mid-May. During the early stage of the sideways market and the subsequent downtrend some analysts believed that the prevailing trend was a result of the post <a href="/zh/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> halving market correction.

At present many crypto investors have adapted their investment strategies to the existing market conditions. Sadly, the prices of some cryptocurrencies have fallen by large margins, thereby dispelling the hope of a quick market recovery. This analysis looks at the recent Notcoin price drop. 
## Notcoin's 40% Price Tumble: Key Levels in Focus
During the first week of June the Notcoin price plunged by almost 40% which emphasizes the need to constantly monitor its key support and resistance levels to denote its next move. Let’s use Notcoin’s price performance for a 24 hour period that stretched from 13 to 14 June to analyze its possible future price trajectory.

First, during that period the 4 hour GameFi token chart showed a bearish outlook that was confired by a descending channel. The following chart shows Notcoin’s state of affairs at that time.
![](https://gimg2.gateimg.com/image/article/17193806491.jpeg)
Notcoin Ichimoku Analysis – [TradingView](https://www.tradingview.com/symbols/NOTUSDT/ "TradingView")

As observed on <a href="/zh/price/the-graph-grt" target="_blank" class="blog_inner_link">The Graph</a>, the [Notcoin](https://www.gate.io/learn/articles/an-introduction-to-notcoin/3094 "Notcoin") was in a descending pattern which ended in a consolidation stage. Based on the Ichimoku cloud analysis the bearish trend is set to continue until the price line rises above the cloud. Also, at the tip of the chart we see an emerging red future kumo, a strong indication of a sustained bearish momentum.

The chart analysis also shows that on 11 June Notcoin only broke above the 100 EMA for a short period. Notably, the price line failed to enter the Ichimoku cloud showing stiff resistance at the indicator’s baseline.

Once or twice the upper tailed bars formed close to the Ichimoku baseline, indicating strong bearish pressure. The bitcoin influence was evident within that period as the [Notcoin price dropped](https://www.gate.io/pre-market/NOT "Notcoin price dropped") in tandem with the BTC price fall. It is also vital to realize that the price rejection that occurred at the Ichimoku baseline signalled a persistent bearish outlook.

Read also: [Notcoin Price Prediction & Forecast for 2024, 2025, 2030](https://www.gate.io/price-prediction/notcoin-not "Notcoin Price Prediction & Forecast for 2024, 2025, 2030")
## Deciphering NOT's Bearish Trajectory
When analyzing high volatility tokens like NOT it is important to keep an eye on its key support levels and resistance zones. Thus, the NOT technical analysis enables us to identify key support and resistance levels that exist on the 1-hour and 4- hour charts. What is noteworthy is that some of these levels align with the 4- hour Ichimoku baseline structure making them reliable price movement indicators. The following graph indicates some of the levels. 
![](https://gimg2.gateimg.com/image/article/17193807232.jpeg)
Notcoin Key Support and Resistance Levels: [TradingView](https://www.tradingview.com/symbols/NOTUSDT/ "TradingView")

As the graph depicts, some of the key NOT price levels to watch are $0.0239, $0.0215, $0.0198 and $0.0159. Also, the key resistance levels on the 4-hour chart include $0.0239, $0.0216, and $0.0198. On the other hand, its key support levels are 0.0162, $0.0159, and $0.0142.
## Future Prospects: What Lies Ahead for Notcoin?
Despite its present state, long term investors can invest in Notcoin hoping that its price may rise soon. The reason is that several indicators show that the coin may soon enter a strong bullish momentum.

At the time of writing, the [Notcoin is trading at $0.01516](https://www.gate.io/price/notcoin-not "Notcoin is trading at $0.01516"). The fact that the cryptocurrency gained by 3% within the last 24 hours shows that it has the potential to rise further. The following price line shows NOT’s performance within the last 30 days.
![](https://gimg2.gateimg.com/image/article/17193807533.jpeg)
Notcoin Price Chart – [CoinGecko](https://www.coingecko.com/en/coins/notcoin "CoinGecko")

As the chart indicates, the NOT downtrend started on 2 June and continued till the 18th when it entered a consolidation phase. Due to the cryptocurrency volatility it is not definite whether or not it will break out or break down. However, the most likely scenario is a breakout above the $0.015 resistance level. 
## Notcoin's Market Moves: The Strategy for Investors
Looking at the current NOT price trend it is most likely that it will soon breakout leading to a possible price surge. With that in mind, some investors may opt to buy during the present dip, hoping for an upward rebound. The recent chart shows that the coin is within an accumulation stage, implying a potential future price upthrust.

The other reason why investors should buy NOT is that it has much utility within the Telegram ecosystem. Since NOT is a play-to-earn token its demand may rise in the future. As a fact, Notcoin is a utility token for a game on the popular Telegram messaging app and a member of The Open Network (TON) ecosystem. There is no doubt that Notcoin holders will benefit in the future as its demand and price may rise. One of the best crypto trading strategies NOT investors can use is buy-the-dip and hold. However, savvy crypto investors should continue to search for different crypto investment insights to improve their trading practices.

Many people like playing the game and earn NOT by completing simple tasks such as inviting people who want to interact with different Web3 projects in the TON ecosystem. Another interesting thing is that the players can stake their NOT which gives them the opportunity to participate in better earning tasks on the platform.

The other reason that should influence crypto investors to invest in NOT is the high number of Telegram users who are its potential adopters. For example, Telegram has over 900 users, making it one of the leading social media platforms that has incorporated digital assets which include NFTs and cryptocurrencies. On the other hand, Notcoin, a miniapp on Telegram, has over 35 million users and the number is increasing by day. 
## Conclusion 
Despite the NOT price drop the cryptocurrency is likely to rally if it breaks out of its current range market. However, several indicators show that the coin is within a strong bearish period. It is important to realize that NOT seems to be a good investment asset considering that the miniapp exists on Telegram, one of the leading social media platforms that has integrated digital assets like cryptocurrency and NFTs.  
## FAQs about Notcoin
### Is Notcoin worth anything?
Notcoin (NOT) has a value of $0.01516 after gaining by 3% within the last 24 hours. The cryptocurrency is likely to maintain a reasonable value since it is a utility token for the Notcoin gaming app, based on Telegram.
### How much is 1 Notcoin?
Currently, Notcoin is trading at $0.01516 after its value has increased by 3% within the previous 24 hours. Major indicators show that NOT is in a range market and its price may rise in the near future.
### What is the price prediction for NOT?
The value of Notcoin (NOT) may reach $0.050 by the end of 2024 and $0.068 by 2025. A rise in its adoption will likely push its price up within the next two years.
### What is Notcoin price?
Notcoin is the market value of a cryptocurrency called NOT that supports a gaming mini app that exists on Telegram. It is trading at $0.01516 at the time of writing. The price of NOT may rise to $0.050 by the end of 2024.
### How to buy Notcoin?
An investor [can buy Notcoin on cryptocurrency exchanges such as Gate.io](https://www.gate.io/how-to-buy/notcoin-not "can buy Notcoin on cryptocurrency exchanges such as Gate.io"), Coinbase and Binance. At Gate.io one should open and verify his/her account in order to execute large transactions. Then, the individual should <a href="/zh/how-to-buy/harmony-one" target="_blank" class="blog_inner_link">buy one</a> of these leading cryptocurrencies like USDT, bitcoin and ETH using a credit card, P2P trading or wire transfer. From there, he/she can convert one of these crypto assets to Notcoin.

<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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