Recently, the price of NOT, the native token associated with the popular touch-to-win game Notcoin, saw a significant surge of 30% within a 24-hour period. This increase came after the token reached a two-month low of $0.0082 on August 5th. In light of these developments, market participants are actively analyzing whether NOT’s value will continue to rise. So, what’s the current status of NOT amidst these fluctuating market conditions?
### Notcoin Insights
**Future Value of NOT**
One of the key indicators that investors closely monitor is the long/short ratio, which reflects the balance between long positions (buyers) and short positions (sellers) in the market. This ratio provides insight into the prevailing sentiment among investors. A rising long/short ratio suggests that more investors are taking long positions, indicating a collective expectation of price increases. Conversely, a declining ratio could signal an impending price drop.
According to data from Coinglass, the long/short ratio for NOT has risen, suggesting that a significant number of investors are positioning themselves to capitalize on Notcoin’s upward trajectory.
In addition, on-chain analytics from Santiment highlight a surge in Open Interest (OI). This metric represents the total number of active contracts in the market and changes based on the number of open positions.
A decline in OI typically suggests that liquidity is entering the market, as participants increase their positions. On the other hand, a rise in OI may indicate that traders are closing out their positions. Notably, with OI surpassing $220 million for NOT, the token’s price reached a peak of $0.028.
### Projections for NOT
A broader analysis indicates that Notcoin is gradually moving away from a downward trend in its market structure. One supportive indicator of this shift is the Cumulative Volume Delta (CVD).
In essence, 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 selling volume. However, at the time of this writing, the CVD has turned positive, indicating that market participants are starting to buy the dip.
Should the buying volume continue to grow, the price of the NOT token could see further increases, potentially rising from its current value of $0.0123 to around $0.013. However, if another downward movement occurs, the price could decrease to approximately $0.0085.
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**Disclaimer:**
The information presented in this article does not constitute investment advice. Investors should be aware of the high volatility associated with cryptocurrencies and conduct their own thorough research.
