An analyst on the popular trading platform TradingView has indicated that the ongoing rally in Notcoin (NOT) may be reaching its end, with a potential price correction of 30% or more looming ahead. The fifth wave of Notcoin's current bullish cycle seems to have wrapped up according to pejman_zwin, a TradingView analyst. Utilizing the Elliott Wave Theory, a technical analysis method for recognizing recurring price patterns in financial markets, the assessment points towards a halt in the upward movement.

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Pejman_zwin highlights the breaking of the uptrend line as a signal denoting the conclusion of Wave 5, which witnessed Notcoin rising over 30% from recent lows. The projection suggests that Notcoin could undergo a considerable retracement, potentially dropping by at least 30% from its current levels. The analyst identifies a crucial support area near $0.009, where the downward momentum may halt. Failure to sustain this support level could push Notcoin's price lower towards $0.007 and $0.0064 subsequently.

On the contrary, if the $0.009 support remains intact, pejman_zwin anticipates a renewed rally, potentially propelling Notcoin back towards the $0.01 threshold. The analysis stresses the importance of risk management and cautions against greed in trading. Setting stop-loss orders for open positions and adhering to a defined trading strategy are recommended by the analyst for prudent trading practices.