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- He did not break through the demand zone with a resaired RSI, signaling uncertainty despite the purchase signal.
- The decline in open interest and the poor activity of the address diminished hopes of recovery.
Notcoin (No) It is struggling with significant market pressure, trading $ 0.004317 at the time of printing, which is a drop of 13.16% in the last 24 hours.
Nevertheless, the TD Sequential indicator on the daily chart gave a purchase signal, which caused guessing about a potential turning of a trend.
Although this pattern often suggests the end of a descending trend, the wider feeling in the market seems skeptical. Can this indicator signal lead to a sustainable recovery for not or will bears retain its grip?
How heavy is the breakdown of the Not?
The price of the action is consistently bear, with no piercing its key demand zone around $ 0.005662 USD.
This critical level, which has previously acted as strong support, has now turned into resistance, further interfering with all the recovery attempts.
In addition, the RSI was at 26.24 at the time of the press, indicating that the not was very resold.
However, resale conditions do not guarantee recovery, and customers have to act aggressively to reverse bear momentum. Without a significant volume and breakthrough above $ 0.005662, a descending trend could continue.
Source: TraringView
Do statistics signal address recovery?
The statistics of the address shows alarming downs, causing concern about user activity.
The active addresses fell by 58.73% during last week, while new addresses fell by 67.91%, emphasizing the weakening of the engagement with the not-in-law.
Furthermore, the zero -state addresses fell by 63.28%, which shows fewer launched transactions. These figures reveal the lack of interest of retail participants, which could significantly slow down any recovery.
However, token could attract a new interest if a positive momentum starts to build in the upcoming sessions.
Source: Intotheblock
Do the forms of the transactions give hope?
Transaction statistics offered different prospects, leaving merchants insecure. Transactions ranging from $ 100 to $ 1000 increased by 46.58%, indicating the interest of middle -level investors.
Similarly, transactions between $ 1,000 and $ 10,000 increased by 21.92%, potentially reflecting the accumulation of larger value dealers.
However, the microtransactions below $ 10 have fallen by 17.08%and the total number of transactions is still weak. Therefore, although there are emptiness of optimism, the total image does not yet confirm a strong recovery.
Source: Intotheblock
Why does open interest decrease?
Open interest in the USD on the note stock market has suddenly fallen to $ 20.62 million, emphasizing the lack of speculative activity.
This fall shows that traders are retreating, reflecting the uncertainty of future NOT prices.
Moreover, reduced open interest also suggests that short -term prices changes may not attract significant attention unless the main catalyst occurs.
Source: Santiment
Read notcoin (not) price prediction 2024-2025
Can Notcoin recover?
Not faces significant challenges despite technical indicators that signal a potential turnaround. ACTIVITY ACTIVITIES ACTIVITIES, Mixed Transaction Forms and Reduced Open Interest indicate a bear mood.
Although recovery is possible if customers use the conditions of resale, sustainable recovery seems unlikely without a strong volume and renewed market trust.
