Market
Notcoin (NOT) Bulls Regain Market Control
NOT, the token that powers the Telegram-based game Notcoin, has seen a spike in its price since July 6. Trading at $0.016 at press time, the altcoin’s price has since surged by 60% since then.
An assessment of some of the token’s key technical indicators reveals that the bulls have regained market control, hence the price rally.
Notcoin Bulls Make an Entry
Readings from Notcoin’s (NOT) Directional Movement Index (DMI) indicator confirm the resurgence in bullish bias toward the altcoin.
The indicator measures an asset’s price trend and direction. It consists of the Positive Directional Indicator (+DMI), the Negative Directional Indicator (-DMI), and the Average Directional Index (ADX).
The +DMI measures the strength of upward price movements, while the -DMI measures the strength of a price downtrend.
NOT’s +DMI line crossed above its -DMI on July 7. This crossover is regarded as a bullish signal because it indicates that the asset’s price uptrend is becoming stronger than its downward movements. It often signals a shift in momentum towards a price rally.
Read more: 5 Top Notcoin Wallets in 2024
On the same day, NOT’s price crossed above its 20-day exponential moving average (EMA) and 50-day small moving average (SMA).
An asset’s 20-day EMA measures its average price over the past 20 trading days, while the 50-day SMA tracks the average closing price of an asset over the past 50 days.
When an asset’s price rises above these key averages, it indicates bullish momentum. It suggests the asset is experiencing an uptrend and positive sentiment among traders.
NOT Price Prediction: The Bulls Maintain Their Grip
As of this writing, the token’s weighted sentiment is above the zero line at 0.05. This metric tracks the overall mood of the market regarding an asset. It considers the sentiment trailing the asset and the volume of social media discussions.
When the value of an asset’s weighted sentiment is above zero, most of its discussions on social media platforms are fueled by positive emotions.
If NOT continues to enjoy this positive bias, its price might rally to exchange hands at $0.017.
Read more: Tap-to-Earn: What to Know About the Crypto GameFi Trend
However, if market participants commence profit-taking activity at this current price level, the token’s value might be down to $0.014.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Winklevoss Urges Scrutiny of FTX and SBF Political Donations
Gemini co-founder Cameron Winklevoss has called for a renewed investigation into the dropped campaign finance charges against Sam Bankman-Fried, the convicted founder of the now-defunct FTX exchange.
Winklevoss emphasized the need for the incoming US Attorney General to address unresolved concerns about how these charges, tied to election interference involving stolen customer funds, were handled.
Winklevoss Demands Probe Into FTX-Linked Election Interference Accusations
In a November 23 post on X, Winklevoss expressed the belief that the campaign finance allegations remain a critical issue. He pointed to the Department of Justice under Merrick Garland, which declined to pursue these charges due to extradition technicalities with the Bahamian government.
According to Winklevoss, the DOJ chose not to work through the required legal processes to include the campaign finance violations in the indictment, leaving the matter unaddressed.
“Merrick Garland’s DOJ refused to pursue campaign finance charges against SBF because they were not included in his extradition…Since when has paperwork stood in between a prosecutor and adding more charges? Especially when it involves election interference with $100m of stolen customer funds,” Winklevoss stated.
Federal prosecutors initially dropped the campaign finance charge last year, attributing their decision to objections from Bahamian authorities. This charge involved over $100 million allegedly funneled from Alameda Research to fund more than 300 political contributions.
According to the indictment, these contributions, often made through straw donors or corporate funds, aimed to enhance Bankman-Fried’s influence in Washington, D.C.
The indictment also noted that Bankman-Fried became a top political donor in the 2022 midterm elections. He allegedly used the funds to gain favor with candidates across party lines, potentially shaping legislation favorable to FTX and the broader crypto industry.
Winklevoss’ remarks come as other key figures in the FTX collapse face their consequences. While Caroline Ellison and Ryan Salame received sentences of two years and 7.5 years, respectively, Gary Wang and Nishad Singh avoided prison by cooperating with prosecutors. Bankman-Fried is currently serving a 25-year prison sentence for fraud and other crimes.
Meanwhile, FTX has announced plans to implement its approved reorganization strategy starting in January. The exchange’s bankruptcy managers have recovered billions of dollars for creditors and are intensifying efforts to reclaim assets held by other entities.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why a New Solana All-Time High May Be Near
Solana’s (SOL) price clinched a new all-time high of $264.39 during the trading session on November 23. Its price has since witnessed a 3% correction, causing the popular altcoin to exchange hands at $255.12 as of this writing.
Despite this pullback, the bullish bias toward the altcoin strengthens. An assessment of its daily chart highlights two reasons why a new Solana all-time high may be on the horizon.
Solana Bulls Relegates Its Bears
On the SOL/USD one-day chart, its price is positioned above the green line of its Super Trend indicator. This indicator measures the overall direction and strength of a price trend. It appears as a line on the chart, changing color based on the prevailing trend: green signifies an uptrend, while red indicates a downtrend.
When the Super Trend line is above an asset’s price, it signals a downtrend, suggesting continued bearish momentum. In Solana’s case, when the Super Trend line turns green and moves below the price, buyers are in control.
This green line often acts as a support level, where increased buying pressure can drive a rebound following price dips. For Solana, this support is currently set at $213.53.
Further, the coin’s price rests significantly above its Ichimoku Cloud, confirming this bullish outlook. This indicator tracks the momentum of an asset’s market trends and identifies potential support/resistance levels.
When an asset’s price rests above the Ichimoku Cloud, it signals a bullish trend. It indicates that the asset is on an upward trend with the potential for further gains. In this case, the Cloud is a dynamic support zone below the price, reinforcing bullish sentiment.
SOL Price Prediction: New High on the Horizon
At press time, SOL trades at $255.12, below the new resistance at its all-time high of $264.39. If buying pressure strengthens further, the coin’s price will flip this level into a support floor and attempt to touch a new peak.
On the other hand, if profit-taking activity resurges, SOL’s price will shed some of its current gains to trade at $231.35. Should this level fail to hand, SOL’s price will fall toward the support formed by its Super Trend indicator at $213.53. This will invalidate the possibility of a new Solana all-time high in the near term.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
WIF Shakes Off Setbacks As Bullish Resurgence Targets More Gains
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