WILL $NOT RALLY SOON!?🔥 (NOT COIN PRICE PREDICTION 2024)

Summary

In this Selenic Crypto update, the host discusses the recent market dip and NCoin's relative resilience. Despite the bearish sentiment growing among investors, the host expresses increased bullishness on NCoin, noting its formation of a V-shape recovery. Key resistance levels are identified at 1.9 and 2.0 cents, with a breakout above 2.1 cents being necessary for a technical bullish stance. However, the host anticipates continued market consolidation with a bearish bias, keeping an eye on open interest and potential breakouts for future updates.

Takeaways

• 📈 The speaker begins by addressing a recent market dip in NCoin but notes that it has held up relatively well compared to the overall market.
• 🐻 Despite a general market trend towards bearish sentiment, the speaker expresses an increasing bullish outlook on NCoin based on current observations.
• 📊 The speaker mentions a significant position closure and a lack of immediate recovery momentum, suggesting that a massive bull run is not expected in the short term.
• 📉 The script compares NCoin's performance to other cryptocurrencies, noting that while most are bottoming out, NCoin is forming a V-shape recovery pattern.
• 🔑 Key resistance levels for NCoin are identified as 1.9 cents and 2 cents, with the speaker highlighting the importance of breaking above 2.1 cents for a technical bullish signal.
• 📈 The speaker believes that a true bullish trend requires substantial open interest, which has not yet been achieved following the recent market movements.
• 🔮 There is a possibility of the market finding a better direction in the coming days, which could influence NCoin's performance.
• 🚫 The speaker does not anticipate a rally or significant breakout in the immediate future, expecting a period of consolidation instead.
• 📝 The speaker emphasizes that while fundamentally and technically bullish on NCoin, current market conditions and technicals suggest a more cautious outlook.
• 🔄 The script concludes with the speaker's commitment to provide updates, especially if there is a significant change in NCoin's market behavior or a potential breakout.
• 👋 The speaker signs off by thanking the audience and expressing well wishes.

Q & A

What is the main topic of the video?

The main topic of the video is a daily update on the status of NCoin, a cryptocurrency, and the speaker's analysis of its recent market performance.

What happened to NCoin's price recently?

NCoin experienced a price drop, which the speaker describes as a 'dump,' but it has held up relatively well compared to the overall market.

What does the speaker think about the current sentiment towards NCoin?

The speaker notes that more people are becoming bearish on NCoin, but they personally are becoming more bullish.

What is the speaker's view on the immediate future of NCoin's price?

The speaker does not expect a massive bull run immediately but believes NCoin is forming a nice V-shape recovery.

What key price levels did NCoin break above according to the speaker?

NCoin broke above 1.9 cents and 2 cents, which are considered key levels by the speaker.

What price level would make the speaker technically bullish on NCoin?

The speaker would become technically bullish if NCoin breaks above 2.1 cents.

What does the speaker believe is necessary for a significant bullish breakout in NCoin?

A significant bullish breakout would require a lot more open interest and momentum than what is currently seen in the market.

What does the speaker predict for NCoin's market behavior in the short term?

The speaker predicts that NCoin is more likely to continue laying low, consolidating, and possibly becoming a bit more bearish, depending on the overall market direction.

What does the speaker suggest about the possibility of an emergency update?

The speaker suggests that if NCoin breaks above 2.1 cents with increased open interest, indicating a strong rally, they might make an emergency update.

What is the speaker's final advice for viewers regarding NCoin?

The speaker advises viewers to stay updated and be prepared for potential changes, as they believe NCoin has a chance to breakout and rally quickly.