- The HEX crypto price has dropped by 13.23% on January 31, 2024.
- The trading volume of the HEX crypto has decreased by 30% in the last 24 hours.
The HEX (HEX) price has been in a strong bearish trend and is almost at the bottom. The price is making attempts to sustain the $0.0120 level, but sellers are strong enough to drag it down.
The HEX price encountered resistance at the $0.0120 mark but struggled to maintain its position. Experiencing a decline of 26% within the past month, the price action suggests a prevailing negative sentiment in the market.
Based on our most recent HEX price forecast, on February 6, 2024, the price of HEX is expected to increase by 0.59% to reach $0.008528. Our technical indicators indicate that the current mood is bullish, and the Fear & Greed Index is currently reading 63 (greed). Over the previous 30 days, HEX saw 15 out of 30 (or 50%) green days and 25.79% price volatility. As per our prediction, this is a favorable moment to purchase HEX.
Will HEX Crypto Price Recover Past Losses?
On a daily time frame, the HEX price has been in a bullish trend for the short-term but the trend was disturbed near the strong resistance level of $0.0120 and the price performed negatively. Again, the buyers tried to reach the last swing high but sellers were strong.
Currently, the HEX price is struggling between the 20-day and 200-day moving averages. If the price fails to defend the 20-day moving average, sellers may dominate and the price may melt to $0.0060 in the next few days.
On the other hand, if the HEX price surpasses the 200-day EMA and sustains over $0.0120, buyers may become confident which may result in a buying momentum. Furthermore, if the HEX coin price sustains the $0.0150 mark, a strong bullish momentum can be expected for a longer period of time.
HEX Price Forecast Based on Technical Analysis
The overall HEX coin price forecast sentiment, based on data from February 01, 2024, is positive, with 27 technical analysis indicators indicating bullish signs and 4 giving bearish indications.
HEX Price Prediction FAQs
What is the HEX price prediction today?
The HEX price is predicted to fall by 1.95% to reach $0.0086 by today.
What is the HEX price forecast for tomorrow?
According to our analysis, the HEX crypto price is forecasted to drop by 5.04% to reach 0.0081 by tomorrow.
What is the current HEX sentiment?
The current HEX price prediction sentiment is bearish according to our technical analysis. The price action suggests sellers are stronger near $0.0120 and recently dropped from this zone.
What is the HEX price prediction for this week?
Based on our analysis, the HEX price is forecasted to remain bearish. The HEX coin price is forecasted to range between $0.0087 and $0.0059 this week.
Conclusion
HEX price is struggling to maintain its position above $0.0120, and if it fails to defend the 20-day moving average, we may see a further drop to $0.0060. However, if it surpasses the 200-day EMA and sustains above $0.0120, it may attract more buyers and this would result in a bullish momentum.
Technical Levels
Resistance levels: $0.01200 & $0.01400
Support levels: $0.0060 & $0.0028
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.