HyperChainX (HYPERUSD) Price Might Possibly Retest the $0.0069721 Supply Level Soon
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HyperChainX (HYPER’USD) Price Forecast: February 9
The HyperChainX price is very likely to retest the $0.006972 supply level and face the positive side soon after completing the dip lows. Therefore, the coin price breakup from the support trend line at a $0.003715 value will release the trapped bullish momentum. The upcoming bullish pattern may push the price to the $0.01500 resistance mark.
Key Levels
Resistance Levels: $0.005000, $0.005500, $0.006000
Support Levels: $0.003600, $0.002600, $0.001600
HYPER (USD) Long-term Trend: Bullish (4H Chart)
Despite the interference of short-term traders in the price of HyperChainX flow today, the long-term market shows a bullish race. Further, the price action can be seen above the EMA-50, confirming its uptrend.
The bulls’ pressure on the currency pair in the past few hours has made it possible for the price to remain in an upward trend zone.
Today, the bulls are trying hard to remain above the $0.0035807 supply mark, so there is a possibility for the coin price to pull back at the current support of $0.0037149 to invalidate the bearish theory.
However, long traders can join the market or invest in the crypto with the current trend and buy at a lower rate for more gains in the future. This will reflect an increase in the trend momentum.
Additionally, a rise in the upcoming rally and breakout above the $0.0062083 high value may turn around the market price of HYPERUSD and the recovery pattern might reach a $0.0069721 supply trend line in the days ahead in its higher time frame.
HYPER (USD) Medium-term Trend: Bearish (1H Chart)
The currency pair is bearish in its medium-term perspective. This is due to the bearish impact on the market. Further, the price action can be seen below the two moving averages. Thus, the current trend will soon end as the market is oversold already.
As a result of low bullish momentum, the price of HYPERUSD found support at the $0.0037149 level below the supply trend lines as the 1-hourly chart resumes today.
In addition to that, the market is oversold as shown by the daily stochastic. Thus, a price reversal is imminent at the mentioned support. As a result of this, the price of HyperChainX might possibly turn upside and break up the $0.0049118 level. The price might possibly retest the $0.0069721 supply trend mark in the days ahead in its medium-term time frame.
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