Notcoin's price rose by nearly 36% over the past day as sudden speculation significantly lifted the Telegram-based token.
But the rise did not lead to lasting momentum. Instead, it triggered the largest selling wave in six months.
Notcoin Drar Sig Bort Från Bitcoin
The correlation between Notcoin and Bitcoin has weakened significantly and dropped to 0.43. This rapid decline shows that NOT no longer closely follows Bitcoin's price fluctuations. Such separation can be beneficial if BTC continues its volatility or shows further declines, as NOT can avoid direct downside pressure.
However, this also implies new risks. A strong recovery for Bitcoin could draw liquidity away from less speculative assets, which might lower NOT even if the internal sentiment remains neutral.
Do you want more token insights like this? Sign up for editor Harsh Notariya’s daily crypto newsletter here.
The Chaikin Money Flow indicator shows a sharp decline over the past day, confirming heavy outflows. The indicator has moved deeper into negative territory and signals that investors quickly left their positions right after the rise. Many likely sold to take profits or reduce exposure, contributing to the sharp pullback.
This selling pressure undermines the upward momentum that initially drove NOT's rise. Sustained outflows at this rate could limit recovery attempts in the short term. Notcoin needs new accumulation and stability in the broader market to counteract the effect.
The NOT price reached 0.000750 USD at today's high before falling to 0.000615 USD at the time of writing. The rapid correction shows the declining enthusiasm and corresponds with the outflow signals that market indicators show.
If Bitcoin starts to recover, NOT may struggle. A rise in BTC often redirects liquidity towards larger, less volatile assets, which could pressure NOT below its support at 0.000609 USD. Losing this level would expose the token to a fall towards 0.000552 USD.
On the other hand, if Bitcoin drops again and NOT investors regain confidence, the altcoin may find support at 0.000609 USD. A successful recovery from this level could lift the price towards 0.000723 USD, offering a chance to invalidate the negative outlook.
