Notcoin’s (NOT) price has experienced a period of consolidation throughout most of September. While the Telegram coin briefly broke above the crucial resistance level of $0.0083, it quickly fell back into consolidation. 

Despite this, there is optimism that a rally may be on the horizon if certain market conditions align.

Notcoin Investors Await Gains

According to the Global In/Out of the Money (GIOM) indicator, approximately 17.97 billion NOT, valued nearly at $145 million, was purchased by investors between the price range of $0.0081 and $0.0072. These tokens represents a significant portion of the market supply, and the demand to turn these investments profitable could push the price higher. Investors who bought within this range are likely hoping for a breakout above the $0.0083 barrier to start seeing returns on their investments.

This large volume of purchased tokens is likely to drive up buying pressure, increasing the chances of breaching the resistance. Once this happens, Notcoin could experience an upswing, possibly bringing it closer to a more profitable trading range for these investors.

Read More: What is Notcoin (NOT)? A Guide to the Telegram-Based GameFi Token

Despite this potential bullish scenario, the overall market sentiment for Notcoin remains bearish. The extended period of consolidation has led to growing pessimism among some investors, which could counter the upward pressure caused by the accumulation of 17.97 billion NOT. The lack of significant price movement has caused hesitation, as traders are wary of the token’s future prospects, and this could result in continued subdued price action.

If the bearish sentiment continues to dominate, it could keep Notcoin’s price trapped under the $0.0083 resistance level. The prolonged consolidation may discourage new buyers from entering the market, limiting the potential for upward momentum in the near term.

NOT Price Prediction: Attempting a Breach

At the time of writing, Notcoin is trading at $0.0080, stuck in a tight range between $0.0083 and $0.0070. A breakout above the $0.0083 resistance level could signal the start of a rally, potentially pushing the price toward $0.0094.

However, the mixed signals from both bullish and bearish factors suggest that consolidation may continue for the foreseeable future. The previously mentioned 17.97 billion NOT supply could still generate profits as long as the price stays above $0.0081, the upper limit of the accumulated range.

Read More: How To Buy Notcoin (NOT) and Everything You Need To Know

If Notcoin successfully breaks through the resistance, a rally could lead to a 17% price increase, sending the token to $0.0094. Such a move would invalidate the bearish-neutral outlook and potentially open the door for further gains.

Bitcoin price started a fresh increase above the $62,000 zone. BTC is gaining pace and might aim for more gains above the $63,500 zone.

• Bitcoin is eyeing a fresh increase above the $63,500 zone.
• The price is trading above $63,250 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $62,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to rise if it clears the $64,200 resistance zone.

Bitcoin Price Regains Traction

Bitcoin price formed a support base above the $60,000 zone. BTC started a fresh increase above the $61,200 and $62,000 resistance levels. The bulls even pumped the price above the $63,000 resistance.

It traded as high as $63,949 and the price is now consolidating gains. It seems like the price is showing signs of a fresh rally above $63,500. BTC is above the 23.6% Fib retracement level of the upward move from the $62,324 swing low to the $63,949 high.

Bitcoin price is now trading above $63,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $62,900 on the hourly chart of the BTC/USD pair.

On the upside, the price could face resistance near the $64,000 level. The first key resistance is near the $64,200 level. A clear move above the $64,200 resistance might send the price higher. The next key resistance could be $65,000.

A close above the $65,000 resistance might initiate more gains. In the stated case, the price could rise and test the $65,500 resistance level. Any more gains might send the price toward the $66,500 resistance level.

Are Dips Supported In BTC?

If Bitcoin fails to rise above the $64,000 resistance zone, it could start another decline. Immediate support on the downside is near the $63,500 level.

The first major support is near the $63,000 level or the 50% Fib retracement level of the upward move from the $62,324 swing low to the $63,949 high or the trend line. The next support is now near the $62,500 zone. Any more losses might send the price toward the $61,800 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $63,500, followed by $63,000.

Major Resistance Levels – $64,000, and $64,200.