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Several cryptocurrencies, including Notcoin (NOT), Polygon (MATIC), and Celestia (TIA), have been experiencing price declines. Investors are closely watching to see if these tokens have reached their lowest points or if further drops are likely.
Notcoin (NOT) has suffered a decline of 4.87%, and, thus, the price reaching $0.008435. This decline is accompanied with an even more dramatic drop in trading volume that has shrunk by 57.95% to $136,297,764. A reduced trading volume can be attributed to the decreased interest within the specific market, as seen by such a drastic reduction in volume.
As at press time, Notcoin appears to have a temporary support level around $0.0084. The price has rebounded slightly from this level, indicating some buying interest. A stronger support level might be around $0.0083, which has historically provided a floor for the price.
Resistance remains strong at $0.0087 and $0.0090, making a recovery difficult. The psychological resistance of $0.0090 has continued to act as a barrier for any sort of upward movement. Consequently, Notcoin faces significant obstacles in making a recovery.
Polygon (MATIC) has also seen a price drop of 2.34% and a 17.93% decline in trading volume.
The key support level for MATIC is around $0.4150, where the price had previously shown some consolidation before a slight recovery. If the price continues to drop, this support level could become crucial.
On the other hand, resistance is evident at around $0.4450, the recent peak before the decline. This level might hinder any attempts at recovery. Hence, the bearish trend for MATIC persists, with significant resistance and critical support levels shaping its near-term outlook.
Celestia (TIA) is not immune to the market downturn either. The token has fallen by 5.20%, trading at $4.55. This decline is reflected in both volume, which has dropped by 16.56%, and market cap, down by 5.10%.
The price opened at approximately $4.7822 and reached a peak before starting its downward trajectory. Currently, the token has found some short-term support around $4.55.
However, previous resistance around $4.70 may have played a role in the recent decline. The next critical support to watch could be near $4.50, a psychological level that might offer additional support.
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