Notcoin (NOT) price has recently surged, yet many holders are still facing losses. Despite the uptick, the majority of investors are waiting for more substantial gains to recover their initial investments. This creates a scenario where selling pressure may be limited, potentially allowing for further upward momentum.

Strengthening technical indicators, including a near golden cross formation and rising trend strength, suggest a growing bullish sentiment. With multiple resistance levels in sight, NOT may continue its rally, offering potential significant growth if current trends hold.

More Than Half of TON Holders Are In a Loss

The historical break even price chart reveals that 40% of TON holders are currently in profit. Despite the recent price surge of nearly 10% in the last 24 hours, a significant portion—53% of holders—are still at a loss.

This imbalance highlights that many investors, especially those who purchased when the price was significantly higher, have yet to see positive returns. The historical break even price metric serves as an important indicator to gauge the profitability of investors based on the average price at which they entered compared to the current market price.

Read more: 5 Top Notcoin Wallets in 2024

With TON’s price still well below the levels observed in August, July, and June, it suggests that a large number of holders are waiting for prices to rise further before selling. The fact that many are still at a loss even after a 10% surge means there is less incentive for these investors to sell at current levels, as they would prefer to recover their original investments or gain profits.

This scenario reduces the likelihood of immediate selling pressure, as holders are likely expecting further price growth. As a result, the current market environment may benefit from sustained buying momentu

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Author: Tiago Amaral