NO, WIF is facing sharp sell-offs: a look at the main market indicators

• NOT and WIF prices have decreased over the past week.
• This is due to an increase in profit-taking activities.

Not money [NOT] AND dogwifthat [WIF] they lost their most recent earnings. Over the last seven days, the two altcoins have recorded double-digit price drops.

Second CoinMarketCap, the value of NOT fell by 35%, while the price of WIF fell by 21%. At the time of writing, NOT was trading at $0.016, while the WIF memecoin was trading at $2.62.

NOT braces for additional dip

After its launch on the Toncoin network on May 16, NOT’s value rose to a peak of $0.02 on June 2.

However, as the profit-taking activity gained momentum, the NON-bulls failed to defend that price level, hence the price decline. At its current value, the altcoin’s price has fallen 20% from its peak.

An assessment of key momentum indicators confirmed the surge in NOT sales in recent days.

For example, its Relative Strength Index (RSI) and Money Flow Index (MFI) have been trending towards their respective center lines. At the time of writing, the token’s RSI and MFI stood at 55.31 and 56.56, confirming the decline in buying pressure.

Additionally, NOT’s Aroon Up Line value was 35% at the time of this writing. This indicator identifies the strength of an asset’s price movement and potential reversal points.

When an asset’s Aroon Up line is near zero, the uptrend is weak and the most recent high was reached a long time ago.

At its current price, NOT is trading near its 20-day exponential moving average (EMA), which tracks the average price of the token over the last 20 days.

When an asset trades near this key moving average, it signals a decline in buying momentum and an indication that bears may soon regain control of the market.

Source: TradingView

WIF sellers take the lead

As for WIF, its performance has been no different, as the bearish trend towards the leading meme coin remains significant.

For example, its Chaikin Money Flow (CMF) was below the zero line to return a value of -0.09 at the time of writing this article.

This indicator measures the flow of money into and out of the WIF market. When its value is negative, it signals an outflow of liquidity from the market, which is a bearish signal and a harbinger of further price declines.

Realistic or not, that’s it The market capitalization of NOT in SOL terms

Additionally, WIF’s Directional Movement Index (DMI) readings showed that its positive directional index (green) lies below its negative index (red).

Source: TradingView

This means that bear strength is more significant than bull strength. It is interpreted as a signal that sellers are in control of the market.

Source