HYPE Price Drops 16% as Sellers Dominate the Market
In the past 24 hours, the price of Hype (Hype) has fallen by nearly 16 %, and its market value has dropped to $ 7.4 billion. Technical indicators show that the seller is weakened in both direction movement index (DMI) and BBTREND.
The EMA cable also shows signs of potential death cross. If the main support of $ 21.1 failed, the loss may be accelerated. However, if the buyer’s intervention and momentum change, the hype may rebound to $ 24.39, and the breakthrough may push it to $ 27.
Hype DMI chart shows that the seller is in control
Superwater The direction movement index (DMI) diagram shows the significant changes in the amount of dynamics, and its average direction index (ADX) increased from 9 to 20.3 in just four days.
ADX measurement trend intensity from 0 to 100 to 100, of which 20 is less than 20, the reading is higher than 25, indicating that the trend is forming a stronger trend. Recent growth shows that the continuous decline in Hype may be increasing power, but it is still in the early stage of confirmation.
+DI (positive indicator light) has dropped sharply from 30.9 to 14.1, and the surge of -Di (negative direction indicator) soared from 13.5 to 25.2, which indicates that the momentum has fallen downwards.
Since the -DI is now more+di, the seller is currently under control, and it has strengthened Hype Look at the trend. If ADX continues to rise to more than 25 times, it will confirm that the decline is greater, which means that unless the buyer recovers the momentum, there may be further losses.
BBTREND is still very positive, but it has dropped
Hype BBTREND has dropped sharply from 10.1 yesterday to today’s 3.15, which shows that the power of watching the bullish has weakened. Bbtrend (bollinger band Trend) Measure the intensity of the price trend based on the Bollinger belt, where it is indicating that the upward trend and negative value indicate a downward trend.
The higher the BBTREND value, the stronger the trend of this direction. Although Hype’s BBTREND is still positive, its sharp decline indicates that the pressure on purchase is gradually disappearing.
With the rapid decline in BBTREND, Hype’s price power is slowing, which increases the risk of potential reversal or deeper callback. If BBTREND becomes negative, it can confirm the decline.
However, if the buyer intervenes and stabilizes the trend, Speculation price You can try to restore the power of watched bullishness. The next few meetings are essential to determine whether this decline is temporary decline or wider correction.
Prediction of hype: Will the hype drop below 20 US dollars?
Superwater Index moving average (EMA) line represents a vital turning point, because the short -term EMA is still higher than long -term EMA, but it is rapidly declining.
If they pass by (death cross), it will marked a stronger loser trend. in this case, Hype You can test the key support of $ 21.1. If this level breakthroughs, further disadvantages may increase the price to $ 20.1 or even $ 18.89, which is the lowest level since January 13. This situation will confirm the increase in sales pressure and prolonging the decline.
If, if, if Speculation price Holding more than support and changes in momentum, it can try to reverse.
The current level of rebound may lead to a resistance of $ 24.39 and destroy the price to $ 27.
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