Notcoin Price Prediction: NOT Open Interest Surged By 2.4%

The open interest of Notcoin (NOT) is up by 2.4% as 69% of traders long on the coin showing that investors are very optimistic that NOT will surge back to the top.

• Notcoin’s open interest (OI) increased by 2.49% in the last 24 hours.
• Over 69% of traders across exchanges are going Long on Notcoin.
• Hamster Kombat currently has 150 million users and 46 million daily active users (DAUs).

The price of NOT reached $0.01398 during European business hours on Tuesday after dropping by 4.5% over the last 24 hours. 

This was complemented by a 14% drop in the 24-hour trading volume of the TON-based gaming token. However, a bullish pattern is playing out, and if price action breaks out, Notcoin may break its all-time high price.

NOT price has consolidated for the past two weeks, moving sideways and losing trading volume. However, the asset is anything but done, as its decent support level has formed around $0.0136 over the past 14 days.

The price of NOT is currently trending below the 50-day and 200-day simple moving averages on the 4-hour timeframe, and the 14-day relative strength index (RSI) is trending below the mid-level at 43. These two indicators suggest that the Notcoin price is not bullish.

Notcoin is at the bottom of the range with room to move to the upside. Consequently, if bulls persist, NOT price may rise by 18% to hit the upper boundary of the range around $0.01778.

Zooming out, another Notcoin bullish perspective also becomes apparent. The asset is in a one-month falling wedge and is approaching the tail end of it. If NOT price breaks out of the falling wedge, the asset may witness a 109% price surge to $0.0294, its previous yearly high. 

Moreover, the current price level coincides perfectly with the 0.618 Fibonacci retracement level, further reinforcing the existing support structure. 

A bounce from here may catapult NOT price to the 0.27 Fibonacci extension level around $0.038, effectively breaking its all-time high price. This would constitute a 170% increase from the current price.

Despite the decreasing trading volume, data from Coinalyze shows NOT’s open interest increased by 2.49% in the last 24 hours, with 69% of traders across exchanges going Long on the asset. 

This means the majority of traders are accumulating Notcoin in anticipation of the breakout.

Can Notcoin Sustain Gains Against New Competitors?

While Notcoin saw massive success in the gaming and meme coin spheres, it triggered a wave of tap-to-earn projects on TON that look like they may overtake the project. 

For instance, Hamster Kombat currently has 150 million users and 46 million daily active users (DAUs), while Tapswap has 50 million users and 17 million DAUs.

Notcoin faces the challenge of remaining relevant and on top of the TON gaming niche. To this end, the developers introduced earning missions and, most recently, burned 210 million NOT tokens worth over $3 million. 

With constant development, Notcoin may remain the largest tap-to-earn gaming project on Telegram. 

Bottom Line

Notcoin’s price analysis reveals an exciting potential to surpass its all-time high (ATH), contingent on specific market conditions.

As a prominent token on the TON network, Notcoin price continues to capture investor interest in the growing gaming and meme coin sector, as reflected by the enthusiasm and engagement of its community.