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Notcoin (NOT) Breaks Downtrend with Surprise Buy Signal
As one of the Telegram coins that was heavily affected by Pavel Durov’s arrest, the price of Notcoin (NOT) dropped from $0.010 to $0.0090 on August 25.
Despite the prevailing bearish trend, recent market indicators are hinting at a possible reversal. If verified, here’s how Notcoin might overcome the intense bearish pressure.
Indicators Hint at Notcoin Recovery
Currently, Notcoin is trading at $0.0093, suggesting that the cryptocurrency is taking steps to erase some of its losses. Additionally, on-chain data from IntoTheBlock shows an increase in the project’s network activity.
Weekly active addresses, for example, have increased. This increase indicates that, despite the recent decline, users are engaging with the token. Moreover, the situation seems to be similar with new addresses as they have also jumped.
Zero-balance addresses were not spared either, as their number increased by 58%. When these metrics increase alongside a price decline, market participants see the decline as a discount and buy NOT token.
