- Summary:
- Notcoin price is on a strong uptrend at a time when the wider crypto market is on a reversal. Find out what's behind the rally.
Notcoin price rallied on Monday, gaining 18 percent at the time of writing to trade at $0.017. The token has been trading inversely to the wider global cryptocurrency market, with its gains in the last three days topping 56 percent. Bitcoin, the crypto market bellwether, has lost 8.6 percent of its value in the last week, while Notcoin has risen by 22 percent during the same period as of this writing, according to CoinMarketCaP.
The current market rally is attributed to recent partnership between Notcoin and two major companies in the crypto space. Last week, Notcoin announced a partnership with Helika Gaming to launch a $50 million gaming accelerator program on Telegram. The partnership targets game studios, mobile app developers and indie creators, who will be onboarded into the Telegram Gaming Accelerator program, to be powered by Notcoin.
Also, the project achieved a major milestone last week, when it launched a new platform, Notcoin Explore. The platform hosts multiple Web3 projects and allows users to interact with them and earn. This transitions Notcoin from a P2P to an explore-to-earn model, and will likely attract a whole new interest among Web3 enthusiasts. Furthermore, advertisers will be able to market their products and service to over 22.5 million users, creating a new revenue stream for the ecosystem.
In late June, Notecoin successfully burned 210 million NOT tokens worth $3 million dollars, in what was described as a demonstration of the project’s community orientation. With more than 2.4 million token holders, the GameFi has a wide reach. Furthermore, its integration with Telegram gives it an edge, as it exposes it to a market of more than 500 million users.
Technical analysis
The momentum on Notcoin price signals potential control by the buyers if they keep the price above 0.0156. They will likely meet the first resistance at 0.0165, beyond which extended control by the buyers could push the price to 0.0177. On the other hand, a move below 0.0156 will signal control by the sellers. The downward momentum will likely find the first support at 0.0148, and a breach of that mark will invalidate the upside narrative. Also, it could send the price lower to test 0.0140.
