The post Correction Or Further Rally Ahead appeared on BitcoinEthereumNews.com.

Over the last few sessions, Notcoin (NOT) has delivered an impressive growth claiming a gain of over 160% to their investors. The growth seems to be driven by the recent burning of nearly 17 Million NOT tokens and the announcement of NOT airdrop phase 1. At the time of writing, the NOT price was exchanging hands close to $0.012 indicating a negative intraday development of over 3.66%. Despite the intraday domination, bears are still not looking confident as the price is higher than the previous day’s low.  However, the volume inflow has dropped intraday which indicates the weakening of bulls at the top and the price may experience some profit booking. Let’s analyze and try to find out whether it may lead to a larger rally or a downward correction. Volume Inflow Drops, Buyers Weak? The recent price drop might continue to snap more gains as there has been a drop in the volume inflow. As per the data obtained from CoinMarketCap, the volume inflow has dropped by over 26.5%. The drop in volume inflow might be an early sign of weakening bullish interest at the top and the price may head for a correction.  Also, the volume to market cap ratio was nearly 76.47% suggesting a high volatility in the crypto. It has a circulating supply and a total supply of 102.71 Billion tokens. Can Notcoin Continue To Gain Or Head For A Profit Booking Notcoin price seems to be taking a pause after delivering a strong momentum for the last six consecutive sessions. Over these sessions the bulls have enjoyed a rally of over 160%.    However, the bears are trying to make a comeback as the price seems to be taking a pause intraday. Despite the price being down over 3% intraday, the bears don’t look confident…

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Filed under: News - @ June 1, 2024 1:22 pm