- Humanity Protocol (H) is trading at $0.1122.
- Selling pressure on the asset remains dominant.
Amid extreme market fear, a bullish comeback seems highly unlikely. The active bearish signals across the major digital assets have triggered it to stay within the red, including Bitcoin (BTC) and Ethereum (ETH). Among the pack of altcoins, Humanity Protocol (H) has registered a 0.33% spike in value over the last 24 hours.
The asset opened the day to trading on the upside, at around $0.1164. As the powerful bears take charge within the H market, the price has been pushed down toward $0.1057. As of this writing, Humanity Protocol trades at $0.1122. Meanwhile, the asset’s daily trading volume has touched the $49.19 million mark.
Humanity Protocol’s red candle formation has pushed its price to fall and find its crucial support zone below $0.1112. With the bearish correction, the losses gain more strength and trigger the emergence of the death cross. Conversely, if a bullish reversal takes place, the Humanity Protocol price could climb to the nearby resistance above the $0.1132 range. Assuming the upside pressure intensifies, the golden cross might likely unfold for further gains.
Bearish Momentum Intensifies on Humanity Protocol’s Charts
Humanity Protocol’s Moving Average Convergence Divergence (MACD) and signal lines have crossed below the zero line, which indicates a bearish shift. The asset has moved below its longer-term trend, and unless the ongoing momentum reverses above zero, the downtrend will continue.
Moreover, the Chaikin Money Flow (CMF) indicator of H is located at -0.24, suggesting strong selling pressure in the market. Notably, the capital is flowing out of the asset. When the value stays this far below zero, it likely confirms the bearish momentum and weak accumulation.
The daily Relative Strength Index (RSI) found at 39.88 implies a bearish mood, though it is nearing the oversold zone. H’s selling pressure remains dominant, but downside strength may be weakening. A bounce from this level hints at a short-term relief move. Besides, the Bear Power (BBP) reading of the Humanity Protocol is at -0.0004, signalling a mild bearish pressure. As the momentum is weak, there is limited strength on the downside, and a possible shift if the buyers begin to step in.
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Source: https://thenewscrypto.com/momentum-warning-for-humanity-protocol-h-are-more-losses-ahead-or-a-short-term-relief-bounce-likely/
