Exchange Inflows Continue to Weigh on Notcoin Price
Notcoin (NOT) is experiencing significant downward pressure as exchange inflows remain elevated and the price hovers near its all-time low. Exchange balances have climbed by 6.5% over the past week, reaching a total of 30.39 billion NOT. This increase points to retail-driven selling, with sellers dominating momentum in the short term.
Large Holders Accumulate as Bearish Indicators Dominate
Despite the heightened selling, blockchain data shows that the top 100 addresses have been net buyers during this period. Analysts note that a sustained accumulation by these large holders�combined with a possible shift from exchange inflows to outflows�could alter market sentiment. For now, however, selling pressure prevails.
- The Bull-Bear Power Indicator signals growing bearish momentum on the daily chart.
- Several 'death cross' patterns have appeared on the 4-hour chart, where short period exponential moving averages (EMAs) cross below long period EMAs. The next notable crossover, between the 100-period and 200-period EMAs, is close to confirmation. Historical patterns suggest this could potentially lead to further price drops toward $0.0018 or a new low.
Technical Divergences and Key Levels
One constructive signal comes from the Chaikin Money Flow (CMF) indicator. Between August 5 and August 14, while NOT made a lower low, the CMF posted a higher low�a possible sign that selling pressure may be easing. However, as the CMF remains below zero, net selling continues to dominate. For a meaningful reversal, analysts suggest the CMF would need to rise above zero, supported by increased top address accumulation and a sustained switch to exchange outflows.
If such an alignment occurs, a recovery toward the $0.0019�$0.0020 range is possible. Until then, the risk remains tilted toward further declines with a potential retest of the all-time low at $0.0016.
This analysis is for informational purposes only and does not constitute financial advice. Market conditions may change without notice, so investors should conduct their own research before making any decisions.
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