Newscrypto Coin (NWC) price has seen a slight decline today, trading near $0.12 after giving up gains from highs of $0.18 on 14 April 2023.
Crypto analyst says the token could break higher and rally 100% or more over coming months.
NWC reached its all-time high of $2.22 in May 2021.
Newscrypto Coin (NWC) traded at around $0.12 on Friday morning, with a 24-hour price return of about -2% at the time of writing.
The daily trading volume was around $1.4 million in 24 hours, representing an increase of about 8% as selling pressure pushed the price of the altcoin down. The Newscrypto Coin, whose market cap currently stands at $18.5 million, traded at lows of $0.05 in early April.
Newscrypto Coin price prediction: analysts highlights NWC breakout
Newscrypto Coin (NWC), which reached its highest price of $2.22 on 3 May, 2021, had been one of the best performers in the last month as it rose to $0.18 on 14 April 2023.
But while the token’s value remains over 128% up in the past month, the latest dip in prices across the markets has seen it pare some of the gains over the past week to just +8%. NWC price is down nearly 28% in the past two weeks.
So what’s the Newscrypto Coin price prediction over the short term?
According to popular crypto analyst Rekt Capital, NWC tokens can trade higher if a breakout happens above a downtrending channel that is potentially forming on the monthly chart.
“First signs of a Downtrending Channel forming,” he tweeted. “A breakout could see NWC rally +100% to major resistance (red) over time.”
The potential catalyst for a new uptrend for Newscrypto Coin is the fact that a significant amount of the total supply of NWC tokens will remain locked until 2028.
At current prices, Newscrypto Coin price is over 776% up since its all-time lows of $0.01 reached in mid-November 2019. Bulls could add to these gains if a breakout pushes the price to $0.35 as per Rekt Capital’s prediction.
$NWC / USDT – #NWC #NewsCrypto
First signs of a Downtrending Channel forming
A breakout could see NWC rally +100% to major resistance (red) over time
NWC tokens are locked in the team wallet until 2028 which may act as a catalyst for an eventual uptrend#BTC #Crypto #Bitcoin pic.twitter.com/3V6j2ptF2G
— Rekt Capital (@rektcapital) April 28, 2023
The analyst suggests in the above chart that the primary support level for NWC/USD could be near $0.05.
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