Notcoin (NOT) Rallies 22% in a Week, Here's Why

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

Notcoin (NOT) price soared on Monday, surging by 18 percent over the last 24 hours to trade at $0.017 at the time of writing. The token price rallied by over 56 percent in the last three days.

The token price moved inversely to the broader global cryptocurrency market, with Bitcoin, the crypto market bellwether, losing 8.6 percent of its value in the last week. In comparison, Notcoin rose by 22 percent during the same period as of this writing, according to CoinMarketCap.

The current market rally is largely attributed to Notcoin’s recent partnership with 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 will see game studios, mobile app developers and indie creators being 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, which is set to attract a whole new interest among Web3 enthusiasts. Advertisers will also 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 burned 210 million NOT tokens, valued at $3 million, in a move that 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: Notcoin price on the 4-hour chart

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.