The price of the cryptocurrency Humanity Protocol has sharply fallen by 17% over the past day, despite a significant increase in trading volume. This article examines the current market situation in detail.
Decline in Humanity Protocol Value
The cryptocurrency Humanity Protocol (H) has fallen by 17.83% in the last 24 hours, reaching $0.061 after a brief rise to $0.07985. This decline occurred after a bullish phase where the asset was at $0.07985 in the morning hours.
Trading Volume and Liquidations
Despite the price drop, the daily trading volume of Humanity Protocol surged by over 84.25%, reaching $558 million. According to Coinglass, around $2.17 million worth of assets were liquidated in this timeframe.
Technical Analysis and Forecasts
Technical indicators suggest that the MACD line for Humanity Protocol has crossed below the signal line, indicating a build-up of bearish momentum. The Chaikin Money Flow indicates strong selling pressure with capital outflows. The RSI at 34.18 suggests an approaching oversold territory, which may also signal further price declines.
Amid current market trends, despite rising trading volumes, purchase activity indicators are deteriorating. Significant bearish pressure is observed, which could lead to further declines in the value of Humanity Protocol.
