Notcoin's price surged approximately 36 percent in the past 24 hours. A sudden bullish speculation caused the Telegram-based token to spike.
However, this rally did not lead to sustained momentum. Instead, it triggered the largest sell-off in six months.
Notcoin, moving away from Bitcoin
The correlation between Notcoin and Bitcoin has weakened significantly, dropping to 0.43. This sharp decline shows that NOT no longer closely follows Bitcoin's price movements. If BTC maintains volatility or shows a downward trend, NOT can avoid direct downward pressure.
However, this poses new risks. If Bitcoin rebounds strongly, liquidity may flow out of small speculative assets, which could lead to a decline in NOT.
Want more token insights? If you’d like to receive more information, subscribe to Editor Harshi Notariya's Daily Crypto Newsletter here.
The Chaikin Money Flow indicator has sharply declined over the past 24 hours, confirming significant outflows. This indicator has deeply entered the negative zone, indicating that investors quickly took profits after the rally. Many appear to have sold to realize gains or reduce risk.
This selling pressure weakens the bullish impulse that initially triggered NOT's surge. Such ongoing outflows may limit short-term recovery attempts. Notcoin requires stability and reaccumulation across the market.
The NOT price has fallen to $0.000615 after reaching a daily high of $0.000750. This rapid adjustment aligns with outflow signals seen in market indicators and reflects a cooled sentiment.
As Bitcoin begins to recover, NOT may face difficulties. A rebound in Bitcoin could shift liquidity to larger, less volatile assets, potentially pushing NOT below the support line of $0.000609. Losing this level could risk a drop to $0.000552.
Conversely, if Bitcoin declines again and NOT investors regain confidence, this altcoin could find support at $0.000609. A successful rebound at this level could elevate the price to $0.000723, providing an opportunity to invalidate bearish prospects.
