Following the lead of the bears yesterday, the Hashflow price analysis is pessimistic for today. As a result of the coin’s price falling today to $0.418, it is currently experiencing a loss. The price function today is also moving lower, and the fall has been rather consistent. Although the trend had already been on the decreasing side, this abrupt decline had come as a surprise. But once more, the bears are in control and the price of HFT has fallen.
HFT/USD 1-day price chart: Bearish sentiment dominates, pushing price down to $0.419
The Hashflow price analysis 1-day price chart reveals that the bearish momentum has been escalating. As a result, the price has been reduced to $0.419 now. Due to a persistent bearish trend, the last few days have been very depressing for both HFT and the cryptocurrency market as a whole. The past 24 hours have also seen reports of a similar pattern. A support level for the HFT price is found at $0.417, which is also close to the bottom boundary of the Bollinger bands.
With the upper value of the Bollinger bands Indicator resting at $0.661 and the bottom value at $0.417, HFT is experiencing severe volatility. As it trades at index 27, still going down, the Relative Strength Index (RSI), which measures selling activity in the market, has dropped into the oversold territory.
Hashflow price analysis: Recent developments and further technical indications
Given the price’s sharp decline over the previous four hours, the 4-hours price chart for Hashflow price analysis is displaying indicators of negative momentum. Since the price levels dropped to $0.419 over the course of the last four hours, the pricing function is once again covering the downward range. Moving average (MA) is currently trading $0.446 above the current price level.
The Bollinger bands are expanding, and the volatility is rising. The upper and lower bounds of the Bollinger bands, which show the growing volatility for HFT, are at the $0.483 and $0.422 points, respectively. The indicator’s average is present at the $0.452 level. The 4-hour chart’s RSI is also sloping slightly downward as it resides just above the edge of the oversold zone at index 31.
The technical indicators for HFT are likewise leaning toward the negative side, with 14 of them showing sale signals and none indicating buy signals, while the other 10 stay neutral and do not indicate either buying or selling of HFT.
Hashflow price analysis conclusion
The downturn is still present following the most recent loss, according to the Hashflow price analysis. Despite being on the decline, the RSI curve for HFT has practically flattened out, which denotes a lessening of selling pressure, and some improvement in price may be seen over the next few hours. The major trend is anticipated to continue being bearish at the same time.
