Recently, the price of NOT, the native token of the widely popular touch-to-win game Notcoin, surged by 30% within a 24-hour period. This remarkable increase followed a two-month low of $0.0082 recorded on August 5th. In light of these developments, market participants are actively analyzing whether NOT’s price trajectory will continue its upward trend. So, what’s happening with NOT in the midst of these market fluctuations?
### Notcoin Insights
### What Could NOT’s Future Value Be?
One key metric that investors closely monitor is the long/short ratio. This ratio indicates the balance between long positions (buyers) and short positions (sellers) in the market. By examining this ratio, one can gain insight into the prevailing sentiment among investors. For the latest financial and business updates, visit COINTURK FINANCE.
An uptick in the long/short ratio suggests that more investors are taking long positions, signaling a collective expectation of price appreciation. Conversely, a declining ratio may hint at an impending price drop. Recent data from Coinglass indicates an increase in the long/short ratio for NOT, suggesting that a significant number of investors are gearing up to capitalize on Notcoin’s current upward trend.
Moreover, on-chain analytics from Santiment reveal a notable rise in Open Interest (OI). This metric reflects the total number of open contracts in the market and varies based on the positions being established.
A drop in OI typically signifies that market participants are injecting more liquidity, indicating an expansion of their positions. In contrast, a decrease could suggest that positions are being closed. Recently, the OI for NOT surpassed $220 million, which contributed to the token reaching a peak price of $0.028.
### What Could NOT’s Future Value Be?
An overall analysis indicates that Notcoin is gradually moving away from a downward trajectory in its market structure. The Cumulative Volume Delta (CVD) serves as a supporting indicator for this shift.
In simple terms, the CVD measures the net difference between buying and selling volumes in the spot market. A negative CVD, as observed on August 5th, points to a high rate of selling activity. However, as of now, the CVD has turned positive, suggesting that market participants are seizing the opportunity to buy at lower prices.
If the buying momentum continues, the value of the NOT token could further rise from its current price of $0.0123 to approximately $0.013. On the flip side, should another wave of selling occur, the price could potentially dip to around $0.0085.
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**Disclaimer:** The content of this article is not intended as investment advice. Investors should recognize that cryptocurrencies are highly volatile and carry significant risk; therefore, conducting thorough research is essential.
