The Notcoin NOT/USD cryptocurrency is completing the trading week as part of a correction and the formation of a “Head and Shoulders” reversal pattern. At the time of publication of the forecast, the Notcoin rate is 0.0185. Moving averages indicate a short-term bearish trend for the coin. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset from current levels. As part of the technical analysis of Notcoin, we should expect an attempt to develop a bearish correction in the coin’s rate and a test of the support area near the level of 0.0170. Then, the price rebounds upward and the asset continues to rise with a potential target above the level of 0.0240.
Notcoin Weekly Forecast June 17 — 21, 2024
An additional signal in favor of the growth of the Notcoin cryptocurrency on the market will be a rebound from the bullish trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the Head and Shoulders reversal pattern. Cancellation of the growth option for the NOT/USD pair on Forex will be a fall and a breakdown of the 0.0155 area. This will indicate a breakdown of the area of the lower border of the “Triangle” model and a continued fall of NOT/USD quotes to the area below the level of 0.0115. Expect confirmation of the growth of NOT/USD quotes with a breakdown of the resistance area and closing of the price above the level of 0.0205, which will indicate a breakdown of the upper boundary of the “Head and Shoulders” pattern and the beginning of the development of a pattern with targets above.
Notcoin Weekly Forecast June 17 — 21, 2024 suggests an attempt to develop a bearish correction and test the support area near the level of 0.0170. Further, the NOT/USD currency pair continues to grow with a target above the level of 0.0240. An additional signal in favor of the rise of the Dollar Franc coin will be a rebound from the trend line on the relative strength index. Cancellation of the growth option will be a fall and a breakdown of the 0.0155 area. This will indicate a breakdown of the support level and a continued fall of the pair with a potential target below the level of 0.0115.
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