Direction
Long
Published
October 16, 2024
Status
Token
NOT
Trigger
Support/ResistanceChart Pattern
Type
Trade Strategy
Updated
About + Tokenomics
CoinMarketCap Rank | 78 |
Market Cap | 850M |
Volume 24h | 250M |
Total Supply | 102B |
Circulating Supply | 102B |
Chain | Notchain |
Chart Analysis
NOT trades in a falling wedge pattern which is typically considered as a bullish reversal pattern. A breakout to the top should send the price to the previous high at $0.23 — or higher.
NOT has also formed a clear bottom at 0.007 and is currently approaching the wedge’s and the price resistance (~0.01)
Technical Indicators
- MACD: Bullish 🟢
- RSI: Neutral 🟢
- VMA: Bearish 🔴
- Triple EMA: Price trades between EMAs 🔵
- ADX: 16, indicating no trend 🔴
Chart
Trade Setup
- Entry: For a safe entry we should wait for the price to a) break out of the falling wedge pattern and b) move above the resistance at ~0.0015
- Target 1: $0.017 (~60%)
- Target 2: $0.023 (~110%)
- Stop Loss: In case the price has already retested the wedge breakout, you can go for a stop loss below the resistance. In case a retest has not happened yet, it might be better to go for a stop loss below the wedge’s upper trendline.