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Notcoin 30% Price Drop Fails to Deter Holders: What’s Next?

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After a long period of uncertainty, Notcoin (NOT) holders have returned with renewed confidence, signaling a potential shift in market sentiment. This is a surprising development, considering how the token has performed recently.

With investors once again rallying behind the cryptocurrency and fueling speculation of a price resurgence, here is what could be next for NOT’s price.  

Notcoin Holders Not Ready to Throw in the Towel

Over the last 30 days, Notcoin’s price has decreased by 30%. This decline could be attributed to notable profit-taking, dwindling confidence in the cryptocurrency’s potential, and, notably, Telegram CEO Pavel Durov’s arrest in France.

As a result, Notcoin’s price is now very close to its all-time low. Despite the decline, on-chain data from IntoTheBlock revealed that NOT holders have refused to give up.

For instance, the Coins Holding Time, a metric used to track the amount of time a crypto has been held without being transacted or potentially sold, has increased by 190% in the last seven days. This increase implies that, despite the crypto’s performance, holders are convinced that there is light at the end of the tunnel.

Read more: 5 Top Notcoin Wallets in 2024

Notcoin Coins Holding Time.
Notcoin Coins Holding Time. Source: IntoTheBlock

Coincidentally, this strong conviction aligns with the sentiment displayed by the Addresses by Time Held metric. This metric shows whether short- and long-term holders are liquidating their assets or keeping them.

When the metric decreases, it implies that market participants have signaled a vote of no-confidence in a token. Consequently, this could lead to a further price decrease. However, as of this writing, many Notcoin holders who accumulated cryptocurrency within the last 30 days have refrained from selling. 

Notcoin Addresses by Time Held.
Notcoin Addresses by Time Held. Source: IntoTheBlock

Interestingly, this is also the case with those who purchased within the last one to 12 months. This surge, if sustained, is a sign that both short- and long-term holders are backing the token to rebound. 

NOT Price Prediction: A 60% Increase Set to Come Alive

At press time, NOT’s price changed hands at $0.0077. Despite the recent decline, the token has broken above the descending trendline, indicating that a bounce beyond current levels could be close.

Apart from this, the Relative Strength Index (RSI), which measures momentum, is close to the oversold region. Typically, RSI readings above 70.00 indicate an overbought point and foreshadow a price decrease. On the other hand, a reading below 30.00 means that the asset is overbought, and a rebound could be in the works.

Currently, Notcoin’s buying volume seems muted, and, as such, the price might hover around $0.0077 for some time. But as soon as buying pressure increases, Notcoin could see a strong rebound from its recent lows.

Read more: Where To Buy Notcoin: Top 5 Platforms In 2024

Notcoin Daily Analysis.
Notcoin Daily Analysis. Source: TradingView

According to the Fibonacci retracement indicator, the price could surge by 60% to reach $0.012. However, if token holders lose confidence before the upswing begins, this prediction may be invalidated, potentially causing the price to fall to $0.0070.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Battles Key Hurdles—Is a Breakout Still Possible?

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Bitcoin price started another decline below the $83,500 zone. BTC is now consolidating and might struggle to recover above the $83,850 zone.

  • Bitcoin started a fresh decline below the $83,200 support zone.
  • The price is trading below $83,000 and the 100 hourly Simple moving average.
  • There is a connecting bullish trend line forming with support at $82,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another decline if it stays below the $83,850 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price failed to start a recovery wave and remained below the $85,500 level. BTC started another decline and traded below the support area at $83,500. The bears gained strength for a move below the $82,500 support zone.

The price even declined below the $82,000 level. A low was formed at $81,320 before there was a recovery wave. There was a move above the $82,500 level, but the bears were active near $83,850. The price is now consolidating and there was a drop below the 50% Fib retracement level of the upward move from the $81,320 swing low to the $83,870 high.

Bitcoin price is now trading below $83,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $82,550 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $83,250 level. The first key resistance is near the $83,850 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $84,200. A close above the $84,200 resistance might send the price further higher. In the stated case, the price could rise and test the $84,800 resistance level. Any more gains might send the price toward the $85,000 level or even $85,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $83,850 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,550 level. The first major support is near the $82,250 level and the 61.8% Fib retracement level of the upward move from the $81,320 swing low to the $83,870 high.

The next support is now near the $81,250 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

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

Major Support Levels – $82,250, followed by $81,250.

Major Resistance Levels – $83,250 and $83,850.



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Is CZ’s April Fool’s Joke a Crypto Reality or Just Fun?

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On April 1, Binance co-founder Changpeng Zhao (CZ) shared an amusing hypothetical on social media platform X (Twitter).

He posed the hypothetical scenario of a user generating a cryptocurrency wallet address commonly used for token burns, which permanently remove tokens from circulation.

Binance’s CZ Shares Cryptic Hypothetical on April Fools Day

Changpeng Zhao’s April Fools’ joke about generating a token burn address sparked discussions. However, the chances of it happening are astronomically low. CZ shared the post during the early hours of the Asian session, kickstarting an interesting discourse.

“Imagine downloading Trust Wallet and finding your newly generated address is: 0x000000000000000000000000000000000000dead. Theoretically speaking, it has the same chance as any other address. Alright, enough imagining. Not gonna happen. Get back to building. Happy Apr 1!” Changpeng Zhao wrote.

It comes in time for April Fools’ Day, celebrated annually on April 1, dedicated to practical jokes, hoaxes, and playful deception. Trust Wallet, integrated as Binance’s non-custodial wallet provider, played along with the joke.

“Happy April Fool’s Day,” wrote Trust Wallet.

While the idea seems far-fetched, CZ was not technically wrong. Theoretically, there is an infinitesimally small probability that someone could randomly generate a wallet address matching “0x000…dead” using software like Trust Wallet.

However, the chances are comparable to winning the lottery multiple times. To put things into perspective, one can generate blockchain addresses using cryptographic hashing functions that produce 160-bit outputs.

This means there are 2¹⁶⁰ possible Ethereum addresses—a number so vast that generating any specific address, such as “0x000…dead,” is practically impossible.

“Haha, imagine the odds! That is a 1 in 2^160 type of vibe. Good one, CZ—back to work now, no distractions from the code,” Synergy Media wrote, putting the rarity into context.

While CZ’s April Fool’s joke entertained the crypto community, the reality remains unchanged. The likelihood of generating a wallet address identical to “0x000…dead” is close to zero. This means the post was a fun thought experiment but nothing more.

“Imagine that you can randomly generate a Bitcoin private key every second, and suddenly one day the private key you generated happens to correspond to Satoshi Nakamoto’s wallet or Binance’s wallet. That’s terrifying,” another user quipped.

However, the joke does highlight the fascinating cryptographic underpinnings of blockchain technology. While every address is technically possible, some are rare and might as well be myths. Crypto users will have to keep burning their tokens the old-fashioned way.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Bulls Fight Back—Is a Major Move Coming?

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XRP price started a fresh decline below the $2.080 zone. The price is now recovering some losses and might face hurdles near the $2.150 level.

  • XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
  • The price is now trading below $2.120 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might extend losses if it fails to clear the $2.150 resistance zone.

XRP Price Faces Resistance

XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.10 levels.

The pair even declined below the $2.050 zone. A low was formed at $2.023 and the price is now attempting a recovery wave. There was a move above the $2.050 level. The price cleared the 23.6% Fib retracement level of the recent decline from the $2.215 swing high to the $2.023 low.

The price is now trading below $2.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.10 level. There is also a connecting bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $2.215 swing high to the $2.023 low.

XRP Price

The first major resistance is near the $2.150 level. The next resistance is $2.1680. A clear move above the $2.1680 resistance might send the price toward the $2.20 resistance. Any more gains might send the price toward the $2.220 resistance or even $2.250 in the near term. The next major hurdle for the bulls might be $2.2880.

Another Decline?

If XRP fails to clear the $2.120 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.020 level.

If there is a downside break and a close below the $2.020 level, the price might continue to decline toward the $2.00 support. The next major support sits near the $1.880 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

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

Major Support Levels – $2.050 and $2.020.

Major Resistance Levels – $2.120 and $2.150.



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