Notcoin Gains 5.98% Daily Amid Symmetrical Triangle Breakout Anticipation

Notcoin (NOT) is currently trading near $0.0023, having recorded a 5.98% gain in a single day and a 12.65% weekly increase. The price action has formed a symmetrical triangle pattern on both the 4-hour and 1-day charts, a consolidation structure marked by converging trendlines and narrowing volatility [1]. This pattern suggests market indecision, with alternating higher lows and lower highs forming within the bounds of the triangle, as traders await a directional move [2].

On the 4-hour chart, Alpha Crypto Signal reported that $NOT is nearing the trendline resistance within the triangle, and a confirmed breakout could lead to long entries after a retest [3]. The structure reflects a period of price compression, with traders closely monitoring volume and momentum for signs of a decisive move. A clean breakout supported by strong volume could indicate a continuation of the bullish trend, potentially targeting prior swing highs [4].

The same symmetrical triangle has been in formation on the 1-day chart since late May, with key pivot points A through D showing consistent adherence to the trendlines. Price is now approaching the upper resistance zone, with bullish momentum evident in the short term. While volume has remained stable, it has been slightly higher on upward moves, signaling gradual accumulation of buying interest [5]. The 9 EMA stands at 0.002241, slightly above the 50 SMA at 0.002244, further suggesting a leaning toward the upside [6].

Traders are advised to watch for a clear breakout above the resistance level, as a successful move could trigger an expansion phase. A retest of the breakout zone could present entry opportunities for those looking to capitalize on the continuation of the upward trend. However, as long as the breakout remains unconfirmed, the pattern remains neutral, with the price action tightly constrained between the trendlines [7].

While the technical setup is compelling, it is important to note that no pattern guarantees a specific outcome. Broader market conditions and macroeconomic factors can influence price action, and therefore, the triangle pattern should be used in conjunction with other forms of analysis for a more robust trading strategy [8].

[1] Source: [Technical Pattern – Symmetrical Triangle Coiling Price action over the past sessions has formed a symmetrical triangle after a preceding bullish leg.](https://www.bitget.com/price/core)

[2] Source: [BTC is approaching a key resistance zone between $117,500 and $118,600, which aligns with the descending orange trendline on the chart.](https://www.tradingview.com/symbols/BTCUSDT.P/ideas/page-9/)

[3] Source: [Bitcoin frequently forms triangle patterns around key psychological levels, with trader discussions often noting tightening ranges and imminent breakouts.](https://www.tradingview.com/scripts/trendanalysis/)

[4] Source: [Resistance Levels – Exit near previous swing highs or key resistance zones.](https://www.tiktok.com/@cryptotrading_insights/video/7536622494078356750)

[5] Source: [Symmetrical triangle indicates convergence which means narrowing volatility, because the trendlines are converging.](https://coinmarketcap.com/community/articles/6897f035f34e2248a5748bd0/)