Notcoin (NOT) Nears Full Price Reversion — Almost Back to Launch Levels

Key Takeaways

• Notcoin trades in a descending wedge near the wave Y completion zone.
• Oversold RSI and bullish divergence hint at a possible reversal.
• A breakout is expected soon as wedge compression nears its apex.
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Notcoin (NOT) continues to trade within a prolonged corrective structure marked by lower highs and lower lows.

The multi-month bearish trajectory suggests it’s in the final stages of a WXY complex correction pattern.

A breakout or strong reaction is imminent as the price nears confluence zones of both technical and Elliott Wave significance.

With heavy oversold conditions in both timeframes, a reversal may be on the horizon, but caution is warranted as wave completion has not yet been confirmed.

NOT Price Analysis

On the 4-hour chart, Notcoin’s price action has unfolded within a well-defined descending wedge since its peak around $0.0294.

The correction appears to be a WXY double three pattern, with wave Y possibly reaching its terminal leg.

The price now hovers around the $0.0017 level, getting close to its starting price of $0.00076.

Wave W was completed in July 2024, followed by a brief rally.

Since then, the downward move has been grinding slowly within the wedge pattern.

This price compression into the wedge apex often indicates a forthcoming breakout.

The Relative Strength Index (RSI) indicator is significantly oversold, falling to 16, suggesting that bearish momentum is nearing exhaustion.

However, a slight bullish divergence is noted as the RSI recovered to 26%, where it currently sits.

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Fibonacci retracement levels from the bullish leg show confluence around the 1.0 extension at $0.000767, possibly marking the final landing spot for wave Y (C).

The final drop could be shallow or extended depending on volume and sentiment.

NOT Price Prediction 

Zooming into the 1-hour chart, we observe a classic 5-wave impulsive decline unfolding as the final wave C within the more extensive Y correction.

If this is true, its last downtrend since March 27 is the previous five-wave advancement to the downside. 

Wave (iii) is in development, meaning a short-term bounce could be expected before a final leg down in wave (v).

The RSI spiked above 30, and divergences may soon appear—typically a sign of reversal.

Should wave (v) be completed soon, Notcoin could enter a relief rally phase or reverse a trend if the broader macro supports it.

A bounce to test the previous support-turned-resistance at $0.0018279 is likely if a reversal forms.

However, breaking below the channel’s lower boundary (~$0.0011) would imply wave (v) isn’t complete and could extend toward $0.00076.

Short-term traders’ recovery targets post-bounce are $0.0020–$0.0023, with bullish confirmation only above $0.0030.

Notcoin appears to be in the final leg of a multi-month corrective pattern.

Both charts suggest exhaustion in the current downtrend.

A technical bounce or complete reversal may be imminent, especially if buyers step in at key support zones. 

Key Levels to Watch

• Immediate Resistance: $0.0018279 (prior support-turned-resistance).
• Key Support: $0.0011 (lower boundary of descending wedge).
• Critical Support: $0.000767 (1.0 Fibonacci extension; potential wave Y bottom).
• Short-Term Target: $0.0020–$0.0023 if reversal initiates.
• Bullish Confirmation: Above $0.0030 (structure break with momentum).
• Invalidation Zone: Below $0.000767 (suggests continuation of bearish structure).