#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #wct $BTC
The price of the Humanity Protocol rose to $0.16 after a jump of 17%.
The daily trading volume saw a tremendous increase exceeding 122%.
This slight decline led to a bearish wave in the cryptocurrency market. All major currencies entered the bearish zone. Currencies like Bitcoin (BTC) and Ethereum (ETH) dropped to their previous lows, currently trading at $87.2 thousand and $2.9 thousand respectively. Among alternative currencies, the Humanity Protocol (H) recorded an increase of more than 17.44%.
In the early hours of trading, the coin was traded at its lowest level at $0.1395. With the bullish shift in the H market, the price rose towards the $0.2162 level, after breaking through critical resistance areas. At the time of writing this report, the Humanity Protocol was trading within the range of $0.1699, with a market cap of $366.24 million.
Additionally, the daily trading volume of the coin has increased by more than 122.34%, reaching $273.68 million. Coinglass data reported that the market experienced a liquidation worth $4.46 million from the Humanity Protocol in the past 24 hours.
Can the Humanity Protocol maintain this upward trend?
The Moving Average Convergence Divergence (MACD) line for the Humanity Protocol is above the signal line, indicating bullish momentum. The short-term price momentum is stronger than the long-term trend. Additionally, the widening gap between the lines indicates the strength of the bullish momentum.
H chart (Source: TradingView)
Additionally, the Chaikin Money Flow (CMF) indicator at a level of 0.15 indicates buying pressure in the H market. Capital flows into the asset moderately, indicating capital accumulation rather than intensive buying. If the indicator rises further, it may support a bullish trend.
The trading pattern of the Humanity Protocol shows strong bullish pressure, where the price is likely to rise and test the resistance level at $0.1739. Assuming that the bullish pressure increases, buyers may activate the golden cross pattern and push the price above the $0.1865 level.
On the other hand, if there is a reversal in market momentum, the price may immediately drop to its lowest level at $0.1524. As strong sellers begin to form a death cross, the price of the Humanity Protocol may face several support levels between the $0.14 and $0.13 regions.
Moreover, the daily Relative Strength Index (RSI) of the asset, which stands at 60.44, indicates an upward trend. The asset is trending upwards but has not yet reached the overbought territory. The Bull and Bear Power (BBP) reading for the Humanity Protocol, at 0.0223, indicates slight bullish dominance in the market. Since the value is very close to zero, the momentum is weak but positive, indicating a consolidation phase rather than a strong trend.$SOL
