Notcoin eyes 60% surge: Will it break the falling wedge at $0.0076?

Notcoin’s bullish falling wedge hinted at a 60% rally if it broke the crucial $0.0076 level.
79% whale control and low BTC correlation could amplify Notcoin’s potential upside breakout trajectory.

Notcoin [NOT] is forming a falling wedge pattern, a bullish reversal structure often characterized by converging downward trendlines. According to crypto analyst Ali, NOT could experience a 60% price surge if it breaks above the $0.0076 resistance level.

The wedge has been forming since early July, suggesting that the extended downtrend might be approaching its end.

If a breakout occurs above the upper trendline, the next potential resistance targets are identified using Fibonacci retracement levels.

Key levels to monitor include 0.236 at $0.0231667, 0.382 at $0.01619219, 0.5 at $0.01347901, 0.618 at $0.01122045, and 0.786 at $0.00864199.

The height of the wedge, measured at 0.00450413 or 60.68%, suggests a breakout target around the 0.618 Fibonacci level.

Source: X

Current price and trading volume

As of press time, Notcoin (NOT) traded at $0.007009, reflecting a 1.68% decline over the past 24 hours and a 9.57% drop over the last seven days. The 24-hour trading volume has reached $128,079,916, indicating substantial market activity despite the recent downtrend.

The lowest point on the chart, noted at $0.00619681, acts as a potential support level if the price drops further. Additionally, the lower boundary of the wedge also serves as a support line, reinforcing the structure of the bullish reversal pattern.