Telegram’s native token, Notcoin (NOT), is showing signs of life after a prolonged downturn. The cryptocurrency, which has been under pressure for over two months, is poised for a potential uptrend as investor confidence gradually strengthens.
A key indicator of this shift is the changing behavior of NOT holders. In recent weeks, there’s been a noticeable migration from short-term to mid-term investment strategies. This suggests a growing belief among investors that the token’s price is likely to rebound in the coming months.
Typically, short-term holders are more prone to selling, which can amplify price declines. However, the decreasing dominance of this group within the Notcoin ecosystem is a positive development. Additionally, the low level of selling activity among investors currently in profit is another bullish sign.
Technically, Notcoin has been battling a stubborn downtrend line for several months. The token has made multiple attempts to break through this resistance but has so far been unsuccessful. However, the recent increase in investor confidence, coupled with the token’s resilience in holding above crucial support levels, suggests that a breakout could be imminent.
A successful breach of the downtrend line would likely ignite a rally, propelling Notcoin’s price towards the next resistance level. On the other hand, a failed attempt could result in a period of consolidation as the market digests the new information.
While the outlook for Notcoin appears to be improving, it’s essential to approach any investment with caution. The cryptocurrency market remains highly volatile, and past performance is not indicative of future results.
