[TL; DR]
NOT’s downtrend may continue if the crypto market remains bearish.
The NOT team should forge more partnerships and collaborations to attract new investors.
The NOT price prediction shows that its value may reach $0.06 by 2030.
Introduction
The current bearish pressure is taking a strong toll on emerging cryptocurrencies such as NOTCoin. Since the beginning of August several crypto assets have been within bearish ranges, something that has further created a negative market sentiment. In this article we shall analyse the performance of Notcoin during the past weeks and the reasons for its poor market performance.
NotCoin Market Performance
Telegram Coin NOTCOIN has been facing strong bearish pressure for a long time which has resulted in frustration among the investors. It has persistently failed to breach some key resistance levels as the bulls tried to increase the buying pressure. Despite its failure to break some key resistance levels the rise in its open interest is a bullish signal. It indicates that its price may reverse at any time which may call for investors to adopt different crypto investment strategies.
On 14 August, for example, the Telegram coin price climbed to the $0.01288 key resistance level but failed to break out of the zone which extended to $0.013. During the second and third weeks of August the momentum of the Not Coin Telegram coin was mostly neutral with a bearish disposition. The fact that it failed to break above the key resistance zone several times indicates that there was much selling pressure in the market. As the following graph indicates, in tandem with the mainly bearish cryptocurrency market, the Telegram coin has been in a strong downtrend since 3 June. Notcoin Price Chart – CoinGecko
As seen on the graph, the Notcoin has been constantly falling for the past two months and the crypto downtrend seems to continue. At the time of writing, NOT is changing hands at $0.01 after losing by 7.7% within the last 2 weeks and by 22.1% within the last 30 days. This shows that the cryptocurrency performance was almost bearish in nature.
In fact, most technical indicators show that its market is neutral to bearish. For example, the NOT relative strength index (RSI) reading is below 50 showing a bearish market orientation. Also the fact that its OBV failed to break above the early August highs shows bearishness. If the Telegram coin fails to flip bullish soon the price may drop towards $0.00852, a key support level.
Based on the existing investor insights NOT Coin has never performed exceptionally well from the start despite having support from Telegram owner, Pavel Durov, and the Telegram app community. The price of the cryptocurrency even fell dramatically within its first week of being listed on exchanges. As a fact, NOT coin debuted on the Toncoin network in May 2024 when nearly 1 billion NOT were distributed to the investors as airdrop. Around the same time NOT was listed on several large crypto exchanges including Binance. Within 24 hours of being listed it reached its all-time high of $0.037.
The support the NOT coin received from Durov gave its investors confidence that it would soon become one of the leading crypto assets. As a fact, the NOT Coin team gave Durov a donation of 1 billion tokens, which he promised to hold until they reach a valuation of $680 million which is about 100 times their value at that time. One advantage of the blockchain technology is that people can hold assets whose values can change without the holder’s additional effort. However, just one week after that grandeur launch the NOT coin price dropped by 85% to trade below its debut price. That sharp price fall was attributed to the massive sell-off by the investors soon after getting the airdrop.
NOT Coin Market Analysis: Reasons for its Stunted Growth
One of the factors that has contributed much to NOT coin’s drawdown is loss of confidence among the investors. The fact that its price remained very low since its launch might have caused some investors to dispose of their holdings. Also, the average holding time for the transacted NOT coin has increased from one week to one month, showing a drop in investor interest in the asset. Usually, investors wait until they find the opportunity to make the best moves. If they take very early moves it means that they do not have much confidence in the token. The next graph shows the coin’s investor holding time. Notcoin Average Time Held: IntoTheBlock
The current average holding time indicates that the cryptocurrency performance may worsen in coming days. Also, based on the current crypto market trends the NOT coin has failed to maintain its upward momentum because the hype about Telegram coins seem to have dissipated. There is no longer much talk about how the Telegram community can help to push these coins up. Also, the general cryptocurrency market is bearish which has contributed much to the Not coin woes.
Looking Ahead: Will Notcoin Recover or Further Decline?
There is a high possibility that the NOTcoin may recover depending on how the team strategizes. For example, if the team forges some partnerships that will lead to the use of NOT in real world applications its value may rise. Therefore strategic partnerships and collaborations are important. The team should also work hard to find new use cases for the coin.
Second, the team should improve its marketing and awareness of the cryptocurrency to attract new investors. As more investors come in, the demand for the token will rise. Similarly, the team should increase its engagement with its community members to iron out their concerns and implement their aspirations.
Notcoin Price Predictions
As said earlier on, NOT is trading at $0.01 and it is still looking very bearish. Recently, the market was expecting it to rise close or above $0.0130 after it bounced off the critical support floor at $0.0094. The digital asset analysis shows that if that had occurred the downtrend could have come to an end. Looking ahead several analysts predict that the NOT price may gradually increase as we move towards 2030, as the next table indicates.
Read also: Notcoin Price Predictions for 2025-2030 Notcoin Price Prediction: 2024 – 2030: CoinEdition
As you can see, by the end of 2024 the NOT price may reach $0.019. What this means is that if its price moves in line with this forecast and the crypto trends remain bullish, NOT may fluctuate between $0.047 and $0.062 by 2030.
Read also how to buy NOTCOIN on Gate.io.
Conclusion
The price of Notcoin has been trending for the past two months. In fact, after its launch its price only surged remarkably within the first week. Since that time it has been mostly flat or falling. However, some analysts predict that the NOT value should increase gradually between now and 2030. To achieve this, the NOT team should forge partnerships and find new use cases for the coin.