Notcoin (NOT) fluctuates inside a symmetrical triangle where the buyers and sellers are equally matched. A group of traders who function under the pseudonym Alpha Crypto Signal spotted the formation of a symmetrical triangle pattern on Notcoin’s 4-hour chart. The post read “$NOT on the 4H timeframe is trading well within a symmetrical triangle and is currently pumping towards the trendline resistance zone. Once $NOT breaks out of this trendline resistance, we can look for a long on the retest of the breakout.”
Inside a symmetrical triangle, buyers and sellers gradually shift from active confrontation to cautious waiting. In the early stage, buyers push prices upward after each drop, but their rallies reach slightly lower highs each time. Meanwhile, sellers push prices downward, managing only to make a higher low. As this happens, the range of the price shrinks.
This shrinking range shows that both sides are losing strength and becoming more cautious. As the pattern develops, neither side commits to big moves—they take profits earlier and avoid risky trades—causing price swings and trading volume to shrink. Near the triangle’s tip (the apex), tension builds as both sides wait for a clear signal, often placing orders just beyond the trendlines.
NOTCOIN makes a pseudo breakout with mounting bear pressure
When the breakout happens, one side overwhelms the other: in a bullish breakout, buyers rush in and sellers close losing positions; in a bearish breakout, sellers take control and buyers cut their losses. This release of built-up pressure creates a strong move in the breakout direction.
Upon further delving into the chart, it could be stated that NOT tried to breakout towards the top; however, the bears were heavily involved in the market, and therefore Notcoin could only make another lower high. As NOT forms the apex of the symmetrical triangle, the token could break out at any time.
But which way still remains a question unanswered. Based on the Relative Strength Index, which indicates the price gains, it is in the neutral zone, which does not get us anywhere in dictating the direction of the breakout. However, the RSI line is just above the SMA, and it says that the token is performing above par. So it represents the presence of the bulls. As such, the NOTCOIN could breakout and move towards $0.0027 after breaking the resistance at $0.0025.
