The current Hashflow price analysis indicates a bearish trend, suggesting a decline in value for today. The price has fallen to the $0.497 level due to a significant influx of sellers, leading to a bearish momentum that has been ongoing for some time. The bears have reestablished control and appear committed to driving the price lower. Despite earlier brief interruption by bullish side, the bears have quickly regained their footing. It seems likely that the price will continue to trend downwards in the short term.
HFT/USD 1-day price chart: HFT takes a steep plunge
The 24-hour Hashflow price chart for the Hashflow price analysis shows that bears have resumed control of the market, following yesterday’s sluggish price activity. The price of the token has undergone a significant correction and currently stands at $0.497, representing an approximate loss of eight percent over the last day. Notably, the moving average value on the 1-day chart is presently positioned at $0.562. Additionally, the short-term SMA 20 line is trending downward, trading below the longer-term SMA 50 line, which suggests a bearish market sentiment.
The Hashflow price analysis indicates the coin is experiencing high volatility, with the Bollinger bands showing a wider range. The upper band, which represents resistance, is converging at the steep $0.701 level, while the lower band, which represents support, is present at the $0.492 mark. The average line of the Bollinger bands is at $0.596, suggesting that the volatility is still on the higher side. The Relative Strength Index (RSI) score is also on a steep downward slope, with the index value currently at 32, indicating the coin may get oversold soon.
Hashflow price analysis: Recent developments and further technical indications
In the 4-hour Hashflow price analysis, the downward trend continues to dominate the market, causing a substantial drop in price value. The decline in price has been quite significant, with the price dropping to the $0.495 level in the last four hours, following a 20-hour-long downward slide that felt like a free fall.
The moving average (MA) is also at a greater height as compared to the current price, i.e., $0.526. The recent downfall has caused the volatility to increase again, as indicated by the upper limit of the Bollinger bands reaching $0.572 and the lower Bollinger band at $0.504. The RSI score has also decreased due to the bearish pressure, showing intense selling activity in the market as the indicator has entered the underbought limit with an index of 25.
Hashflow price analysis conclusion
Concluding the Hashflow price analysis, there has been a notable bearish resurgence, leading to a sharp decline in the cryptocurrency pair’s value. The HFT/USD price has drastically decreased to $0.495, indicating that the bears have regained their grip on the market. The current price action over the last four hours shows a continuous downward trend, indicating that more price reductions may be expected in the near future.
