- The HIGH coin price is currently trading at $1.122.
- The chart shows the overall presence of the sellers.
The HIGH token is a native token of the Highstreet metaverse. The coin was released to engage more users in the Highstreet metaverse by giving them rewards for their participation. The token was designed to generate demand for it, which could assist in boosting its value.
HIGH Token Price Analysis
The HIGH coin price is currently trading at $1.122 with an increase in its value by 1.36%. The coin seems to be trading with a 24-volume of $339.374K. It ranks at 341 positions according to CoinMarketCap with a market capitalization of 55,109,824 US dollars.
1-Day Chart Analysis of the Highstreet Coin
In the 1-day chart of the HIGH coin, the price has formed lower highs with a resistance of a trendline which is making the price fall. However, there is a support zone of $1.017 level which is stopping the price from its further fall. The price seems to be forming a descending triangle pattern, which is a bearish continuation pattern.
The 50-day and 200-day EMA lines are trading above the HIGH coin price, which is a bearish sign. Token’s price is currently rising and is approaching the 50-day EMA line. If it closes above the EMA line, buyers would start getting their strength back and could rise to 200-day EMA. However, the rejection from the 50-day EMA will make it fall back to its $1.017 support again.
The relative strength index is at 42.80, which is marked in the bearish territory. However, the RSI line is sloping in the upward direction showing the ongoing buying pressure. The probability is that the RSI could face resistance from its 50 level because of the overall control of the sellers. If the RSI line crosses above its 50 level, it will signal the continuation of buying pressure showing the dominance of buyers.
In the current scenario, the Highstreet coin price is rising to test the 50-day EMA line. If it closes above the 50-day EMA, it can continue its further rise. Buyers can take full control of the price if they close above the $1.227 resistance level and the 200-day EMA. After that, the price can continue its further rise and its first resistance will be at $1.560.
The chart shows the overall control of the sellers in every aspect. So, if the price faces rejection from the 50-day EMA line, it may fall back to its $1.017 support zone again. For the continuation of the downtrend, it must close below the $1.017 support zone. Thus, it may fall to its next support level at $0.837.
Conclusion
The overall sentiment of the High token price is bearish. Highstreet coin’s price has formed Lower highs indicating the overall control of bears. The technical indicators are also showing the overall presence of sellers in the current scenario.
Technical levels
- Resistance Levels: $1.227 and $1.560.
- Support Levels: $1.017 and $0.837.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.