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- 1 HEX price is trading below the key moving averages.
- 2 The crypto price dropped by 21.62% in a sharp bearish move in the last trading session.
Based on the HEX price prediction, it is likely that the value of HEX cryptocurrency may decrease further in the upcoming months. HEX price fell by 21.62% in the past 7 days, and it seems to be under bearish pressure according to its price action.
At the moment, the trend is being controlled by the bears, who are exerting their dominance over the price action. Despite the bulls’ efforts to take control, they were unable to break above the upper level, leading to the bears regaining their supremacy over the price action on the 1-day chart.
HEX cryptocurrency is currently trading above the important exponential moving averages, but its price is still within the reach of the bears. On the daily time frame, the price is being met with resistance from the upper resistance levels. Furthermore, the supply zone is experiencing significant selling pressure, which suggests that the bears may push the value of HEX down further in the near future.
The technical indicators suggest that bears hold the edge over the price action. The price pattern, oscillators, EMAs, and Volume are moving in tandem, giving similar signals. At the time of writing, HEX is trading at $0.001548 with an intraday drop of 3.43%, signaling bearishness. Moreover, the trading 24-hour volume is 253.54 K and the last market cap is $267.23 Billion.
Analysis Of HEX Crypto Price & Volume
The chart displaying price and volume indicates that the trading volume has reduced in recent days and that the price has also decreased. The price has seen a significant decrease in the past few days, so it is likely to fall in the upcoming sessions.
Technical Analysis Of HEX Crypto Price In 1-D Time Frame
At the time of publishing, HEX crypto is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price trend. However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the HEX price is expected to move downwards giving bearish views over the daily time frame chart.
The MACD line at -0.000571 and the signal line at -0.000710 are above the zero line. A bullish crossover was observed in the MACD indicator which signals strength for the HEX crypto price.
The current value of RSI is 31.89 points. The 14 SMA is above the median line at 32.02 points which indicates that the HEX crypto is bearish.
Summary
HEX cryptocurrency is currently under bearish pressure according to its price action. The technical indicators suggest that bears hold the edge over the price action. At the moment, the trend is being controlled by the bears, who are exerting their dominance over the price action. Traders and investors should be patient and look for a clear break below or above the range before making any moves to minimize losses. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue. Based on HEX price prediction, it is likely that the value of HEX cryptocurrency may decrease further in the upcoming months.
Technical Levels
Support Level: $0.001400
Resistance Level: $0.002013
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
