• NOT breached a demand zone with oversold RSI, signaling uncertainty despite a buy signal.
• Declining Open Interest and weak address activity dampened recovery hopes.

Notcoin [NOT] has been grappling with significant market pressure, trading at $0.004317 at press time, down 13.16% in the past 24 hours.

Despite this, the TD Sequential indicator on the daily chart has flashed a buy signal, sparking speculation of a potential trend reversal. 

Although this pattern often suggests the end of a downtrend, the broader market sentiment seems skeptical. Can this indicator’s signal lead to a sustainable rebound for NOT, or will the bears maintain their grip?

How severe is NOT’s breakdown?

The price action has been consistently bearish, with NOT breaching its key demand zone around $0.005662.

This critical level, which had previously acted as strong support, has now turned into resistance, further hindering any recovery attempts. 

Additionally, the RSI sat at 26.24 at press time, indicating that NOT was heavily oversold.

However, oversold conditions do not guarantee a recovery, and buyers must step in aggressively to reverse the bearish momentum. Without substantial volume and a breakout above $0.005662, the downtrend may persist.

Are address stats signaling recovery?

The address statistics show alarming declines, raising concerns about user activity.

Active addresses have dropped by 58.73% over the past week, while new addresses are down by 67.91%, highlighting weakening engagement with NOT. 

Furthermore, zero-balance addresses have fallen by 63.28%, showing fewer transactions being initiated. These figures reveal a lack of interest from retail participants, which could significantly slow any recovery.

However, the t

Go to Source to See Full Article
Author: Erastus Chami