The Notcoin price is leading the gains on Wednesday as all the wider crypto market experienced modest gains. NOT price is up 13.64% over the last 24 hours to trade at $167 as of 3:30 am ET.
With this performance, Monero is the biggest gainer among the top 100 cryptocurrencies by market capitalization according to data from CoinMarketCap.
Top gainers Feb. 1. Source: CoinMarketCap
In comparison, the global crypto market capitalization is up 0/86% on the day to rest at $2.27 trillion. Bitcoin is up 1.74% to $61,704, and Ether’s ETH has increased by 1.29% to $3,401 over the same time period.
What are the key levels to watch out for Monero in the long term?
Notcoin price trades above a significant support zone
The NOT price trades in a second green session on the daily chart with the bulls determined to recoup all the losses incurred on Jan. 30.
At the time of writing, NOT was fighting resistance from $0.01643. A daily candlestick close above this level would suggest the ability of the buyers to sustain the higher levels. These bulls will then be bolstered to push the price first toward the $0.020 psychological level and later the June 15 high at $0.0218. Such a move would represent a 32% ascent from the current price.
NOT/USD four-hour chart. Source: TradingView
Supporting the bullish thesis for the NOT token was the upward-facing relative strength index (RSI). The price strength at 65 suggested that the buyers had begun dominating the market.
Perhaps the most important technical indicator supporting Notcoin’s upward thesis is the major support zone between $0.0149 and $0.0150. Note that this is where the 50-day exponential moving average (EMA), the 100-day EMA and the 200-day EMA lie.
As such, any attempts to pull the NOT price below this level would be met by intense buying from this cohort of buyers who would want to increase their profits.
Other levels to watch on the downside are the psychological levels at $0.140 and $0.120 respectively.
