is Altcoin Season On the Horizon?

While many cryptocurrencies have been swinging sideways, Notcoin (NOT) seemed to have charted its path. At press time, NOT’s price was $0.019, representing a mind-blogging 275% increase in the last seven days.

The project which recently launched airdropped millions of tokens to users who engaged in its play-to-earn game. Around that time, faced selling pressure as its price dropped by 55% in the first week. But with this turnaround, it looks NOT could be destined for a higher value.

Pyth Network (PYTH) was another token that emerged with good performance in the last 24 hours. As of this writing, PYTH’s price was $0.42, representing a 5.18% increase within the aforementioned period.

However, the likes of Internet Computer (ICP) and Filecoin (FIL) did not record major hikes. Instead, they traded in a tight range. Despite that, there are talks in some corners that NOT could be the token that leads the altcoin season and brings respite to other cryptocurrencies currently lagging. Here is a thorough analysis of NOT, PYTH, ICP, and FIL.

Notcoin (NOT)

According to the 4-hour chart, the buy/sell volume revealed that the bury orders remained far above the selling pressure, indicating that NOT’s price could continue rising. Evidence of this was also reflected in the Awesome Oscillator (AO).

At press time, the AO reading was positive, and the higher green bars indicated increasing upward momentum. If sustained, NOT’s price could rally to $0.025 in the short term. In addition, the 20 EMA (blue) had crossed over the 50 EMA (yellow).

This position, known as the golden cross further validated the bullish prediction. However, traders might need to watch out. If holders of NOT book profits in droves, the prediction could be invalidated and the token’s price might fall to $0.015.

Pyth Network (PYTH)

For PYTH, the Relative Strength Index (RSI) showed that the momentum was bullish. With this indicator reading, the price of the token could be gearing past the resistance at $0.45. A look at the Fibonacci levels showed that the 0.236 level was at $0.40, suggesting that PYTH had held support in this region.

On the upside, the 0.786 Fib level was positioned at $0.48. As such, if PYTH crosses the overhead resistance, the price could climb to $0.48. In a highly bullish situation, the token might rise to $0.50.

PYTH/USD 4-Hour Chart (Source: TradingView)

Internet Computer (ICP)

At press time, ICP’s price was $12.01. This was a notable decrease from the period that the token tried to hit $14. However, indicators showed that ICP could be on its way upward again. First off, the Moving Average Convergence Divergence (MACD) was bullish.

This suggests that the momentum around the token could be higher. However, the 12 EMA (blue) needs to rise much higher above the 26 EMA (orange) to validate this prediction. If this happens, then ICP might key into the $13.11 resistance for a start.

On the other hand, rejection could force the price back to $11.84. However, signals from the Money Flow Index (MFI) showed that capital was getting better at pushing ICP’s price higher.

ICP/USD 4-Hour Chart (Source: TradingView)

Filecoin (FIL)

Over the last few weeks, FIL has not experienced a significant surge in buying pressure. This was indicated by the Accumulation/Distribuion (A/D) line. At press time, the A/D line was flat, suggesting that FIL could consolidate in the short term

In addition to this, Coin Edition looked at the Bollinger Bands (BB). As of this writing, the BB contracted, indicating low volatility.

FIL/USD 4-Hour Chart (Source: TradingView)

As such, ICP might not experience wild price fluctuations. From the look of things, the price of the token could swing between $5.69 and $5.84 in the short term.