Deep Dive
1. Technical Breakdown (Bearish Impact)
Overview: HFT trades at $0.0263, below critical SMAs (7-day: $0.0281, 30-day: $0.0303) and near Fibonacci support at $0.025–$0.027. The RSI (38.11) suggests oversold conditions but lacks bullish confirmation.
What this means: Weak price action reflects low buyer confidence. The 24h volume drop (-3.93%) to $3.06M signals diminished interest, while bearish chart patterns (lower highs) hint at further downside unless $0.027 support holds.
What to look out for: A close above the 7-day SMA ($0.0281) could stabilize prices, while a break below $0.025 risks accelerating losses.
2. Token Unlock Overhang (Bearish Impact)
Overview: A $1.1M HFT unlock occurred on September 7, 2025 (MEXC News), adding 2.22% to circulating supply. Another unlock is scheduled for August 2025.
What this means: Unlocks often lead to selling by early investors or teams. With HFT already down 66.59% over 90 days, traders preemptively exit positions to avoid dilution.
3. Risk-Off Market Sentiment (Bearish Impact)
Overview: Bitcoin dominance rose to 59.12%, and the Fear & Greed Index sits at 32 ("Fear"). Altcoins like HFT underperform in such environments.
What this means: Capital is rotating to safer assets (BTC) amid macroeconomic uncertainty. HFT’s low liquidity (turnover ratio: 0.173) exacerbates volatility during market-wide pullbacks.
Conclusion
HFT’s decline reflects a mix of project-specific risks (unlocks, weak technicals) and broader market headwinds. Traders are avoiding high-risk altcoins amid Bitcoin’s dominance and fear-driven sentiment.
Key watch: Can HFT stabilize above $0.025, or will another wave of token unlocks deepen the sell-off? Monitor Bitcoin’s price action and HFT’s on-chain volume for clues.