The hype has recently experienced significant volatility, pushing Altcoin upwards. The rise to the new all-time high (ATH) could be delayed.
However, it could be strong for the coming months, especially with positive momentum building in the market.
High lipids are being bullishly focused
The hype’s relative strength index (RSI) led to a positive shift, slipping temporarily underneath the neutral mark before returning to the bullish zone. This rise will strengthen the bullish momentum above 50.0. This is a promising sign of the price of hype over the next few days.
When the RSI exceeds 50.0, the upward momentum suggests that it is gaining traction. Investors can expect prices for hype to experience a continuous upward movement, as long as RSI maintains this bullish trend.
Moving Average Convergence Divergence (MACD) indicators also show promising signs of hype. It is on the crisis of bullish crossovers, which will confirm a change in momentum from bearish to bullish.
The histogram associated with the MACD shows a decrease in the red bar, indicating a decline in bear pressure. The confirmed bullish crossover confirms momentum and fuel hype to new highs.
Hype prices are approaching ATH
Hype is currently trading at $39.1 under a $39.9 resistance. Breaking through this level is important for the hype to continue its upward trajectory.
Securing $39.9 in support shows the potential for further profits and sets the stage for Altcoin to push towards higher price levels.
To continue the upward trend, hype must infringe and retain $42.2 in support. If successful, the next important goal is a $45.8 ATH. This is about 16.8% above the current price.
However, this move could take some time and investors believe it will happen someday when Q3 begins next week.
Both $42.2 and $39.9 were important levels of resistance for the hype.
If Altcoin doesn’t break past $39.9 or encounter selling pressure before reaching these levels, it could return to $35.7 support, negating bullish outlook and potentially reverse current trends.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
