Key Insights:
- The Notcoin price surged 5.38%, bouncing off $0.002035 support after heavy long liquidations cleared weaker positions.
- Open interest dropped 5.44% as volume rose to $50.54M, signaling position closures amid rising trading activity.
- Binance long/short ratio hit 2.48, showing strong bullish bias from top traders despite global short-dominant sentiment.
Notcoin (NOT) has posted a 5.38% price gain, pushing its value to $0.002108. This price movement comes amid rising trading interest across spot and derivatives markets.
The token has shown signs of both weakness and resilience in recent sessions. Market participants are following closely as the price stabilizes near key support, while trading volumes and open interest show mixed behavior.
Derivatives Market Behavior and Sentiment
The long/short ratios reveal a mixed sentiment across the market. Globally, the 24-hour long/short ratio sits at 0.922, meaning more traders have short positions.
This implies that bearish sentiment is still dominant in broader markets, potentially due to recent downward trends and failed breakouts.
However, exchange-specific data from Binance and OKX show different behavior. Binance reports a long/short ratio of 2.4843, and OKX reports 2.1.
This means that on these platforms, many more traders are holding long positions. Top traders on Binance also show bullish exposure, with long/short ratios above 2.2 for both account and position data.
This suggests higher conviction among experienced traders betting on a rebound from current support levels.
Liquidation data over the last 24 hours shows long positions worth $140,750 were liquidated, compared to $28,200 in shorts.
This 5-to-1 ratio indicates that bullish traders were more impacted by the recent price pullback. A shakeout like this often removes weaker positions, possibly stabilizing price if support continues to hold.
Trading Volume Shows Mixed Signals as Interest Remains Steady
Over the past 24 hours, the total trading volume for NOT reached $25.51 million. This represents a decrease of 8.06% from the previous day.
While the volume remains above the 10% threshold of the token’s market cap — considered healthy for mid-cap assets — the downtrend signals cautious participation among traders.
The volume-to-market cap ratio stands at 11.81%. Although this level indicates that liquidity remains available, falling trade volumes during price rebounds suggest buyer conviction may be weakening.
This is especially relevant following a failed attempt to hold above the $0.002220 intraday high, where the market experienced heavy selling pressure.
Open interest in derivatives markets also showed a slight decline. It fell by 5.44% to $38.73 million, even as the futures volume rose to $50.54 million.
This contrast between lower open interest and higher volume may reflect traders closing positions, particularly after recent volatility led to liquidations of long positions.
Price Action Stalls Below Resistance Amid Weakened Momentum Indicators
Notcoin (NOT) is going through the corrective trend on the downside after reaching the peak of a tad over $ 0.0034 in early May.
Moreover, the price has been developing solid lower heights and lower lows since then, and they have validated a bearish formation on the 4-hour chart. In the recent past, NOT is settling between the $0.00205 and the 0.00215 marks, utilising critical support zones located at the 0.00200 level, which has been put to the test a number of times since the beginning of June.
In the most recent session, the price tried to make an upward push toward the level of $0.002220 but was rejected sternly. This drawdown came back, once it has reached a support level of 0.002035 and moved back a bit.
The rebound however was not very strong as it did not manage to regain former highs. This is a procedural action in the market because it is in indecision although it has two active participants; sellers, who are trading at higher levels and buyers, who are trading at lower levels.
There are mixed technical indicators. The MACD line is nearly equivalent to the signal line and the histogram is a bit negative thus indicating that the bearish momentum is weak.
In the meantime, the RSI stands at 46.80 below the neutral 50 mark, which suggests flat trend with slight directional inclination.
