The Evolution of Notcoin amidst Market Swings

Within the realm of meme coins dominating the current bullish market phase, Notcoin, a meme coin originating from Telegram, has stood out with its remarkable performance. Launched just a month ago, Notcoin has experienced an extraordinary surge, surpassing the 2000% mark from its initial price of $0.001003.

However, recent market corrections have led to a 20% decline in Notcoin's value, sparking discussions on the potential for a bullish resurgence that could drive the NOT price to the significant $0.050 milestone by June.

Notcoin's Resilience at $0.020

Amidst a strong uptrend, Notcoin has established itself as a prominent player in the meme coin market, registering a 47% price hike over the past 30 days and reaching a market capitalization exceeding $2.195 billion.

Nevertheless, a recent peak at $0.029 has triggered a pullback to the pivotal $0.020 support level. This level has historically acted as a key rebound zone for Notcoin's price, indicating the potential formation of a double bottom reversal pattern on the 4-hour chart.

Currently priced at $0.021, Notcoin is showing a minor intraday gain of 1.06%. The lack of substantial price rejection at lower levels suggests a possible comeback, with the proximity to the $0.020 support level enhancing the prospects of a bullish reversal.

Technical Analysis Insights:

• RSI Indicator: The 4-hour RSI trend is downward, crossing below the midpoint, signaling a weakening bullish momentum.

Targeting $0.050: Analyzing NOT Price Potential

As Notcoin's price slips below the 2.618 Fibonacci level, the bullish control at $0.020 faces pressure. However, the consolidation phase during the pullback indicates a potential double bottom reversal pattern forming on the 4-hour chart.

Despite the absence of RSI divergence, the prevailing bullish sentiment amidst the ongoing uptrend suggests a possible reversal scenario. Therefore, with a bullish uptick and broader market recuperation, stakeholders could witness Notcoin surpassing the $0.050 threshold.