【Notcoin transaction volume increased by 50% is a rumor】On-chain analysis shows that Notcoin's recent price increase may be a short-lived phenomenon. On August 28, French authorities accused its founder of illegal activities on the app. Durov was released after paying a 5 million euro bail, but was restricted from leaving the country. Spot contract Junyang 👉@点这里 加密乘风
Since then, Notcoin prices have soared to $0.0092, and trading volume has risen 50% to $412.84 million in 24 hours, reflecting the market's interest in the Durov incident, but then both trading volume and price fell. According to IntoTheBlock's "Bull and Bear Indicator", there are more participants selling NOT in the market than buying it, and the selling pressure is high. If this situation continues until the end of August, NOT prices may find it difficult to recover and may even fall to historical lows. Notcoin's brief rise formed a bearish flag on the chart, indicating a further decline. If NOT fails to break through the upper edge of this pattern, the price may fall to $0.0085. Meanwhile, the relative strength index (RSI) is below the neutral line, showing that bears are in control of price action and a lack of upside momentum could push prices down further. However, if buying pressure increases, NOT could rally to $0.0095, potentially reversing the bearish trend.
