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- Notecoin (NOT) breaks out from a falling wedge, signaling potential bullish momentum with key support at $0.00166.
- Price targets of $0.0057 and $0.0096 are in sight if Notecoin holds above key support, sparking investor interest.
- Rising volume alongside the breakout suggests Notecoin’s growing market attention, confirming bullish signals for the future.
Notecoin (NOT) has recently made a technical breakout from a falling wedge formation on the weekly time frame. This has been viewed as a sign of a change in momentum by many in the investment market. Cryptocurrency is trading above a key support level at $0.00166, indicating that a new uptrend may be expected. If the current structure has, Notecoin could be set for an upward move.
A falling wedge trend is normally considered a bullish pattern. If this pattern shifts to the upper side, it forms a constructive indication that a new uptrend may be around the corner. The fact that Notecoin is now out of the downside wedge formation means that it might be gearing up for an upward movement. Currently, traders and analysts are awaiting signs that the cryptocurrency will be able to hold above its primary support level.
Source: X
Notecoin (NOT) Key Price Targets
The following are price targets that has been identified by Rose Premium Signals concerning Notecoin based on this breakout;. The first target is at $0.0057 with a second target at $0.0096. These levels act as the areas of resistance and their overcoming will indicate the further development of the upward movement. Since these are price targets, they are sparking interest in the market with many investors keeping an eye on the price movement.
However, another important factor to consider is the increasing traffic associated with Notecoin as it gains mainstream popularity. Volume greatly contributes to testing for price changes. This is a bullish signal that confirms the asset is garnering more attention. As the price surges past resistance and continues to rise. The increase in volume, together with the breakout of the wedge, implies that Notecoin is capable of going a notch higher. As of now, NOT is trading at $0.002171, showing a 7,65% increase over the past day.
Source: TradingView
However, these signals are evidence that investors should be on the lookout for, but should not be taken as an all-clear sign. Such positions should only be taken once there is affirmation of this trend. In this regard, it is possible to achieve the targets of $0.0057 and $0.0096 in Notecoin if the price maintains a stance above the $0.00166 support level.
