Richard

Wednesday

Million

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>HEX crypto slumped nearly 29% in intraday and was at $0.0029 (press time).</a></li>
 <li><span>2</span> <a>The crypto has crashed nearly 80% in the last three sessions and has fallen near a multi-month low.</a></li>
</ul>
<p>The HEX crypto could not find grounds on the fourth consecutive session and crashed nearly 29% on Wednesday by the afternoon session. The crypto lost nearly 80% of its valuation in the last four sessions and might continue to do so until it finds strong support.</p>
<p>While the overall crypto market maintained a balanced positive approach in the recent sessions, the HEX price has lost nearly 80% of its valuation and has hit a multi-month low. At the time of writing, the HEX crypto was trading close to $0.0029 after losing nearly 29% intraday.</p>
<p>Moreover, the severe drop in the HEX crypto price comes amid Richard Heart’s recent controversial statement on a social media platform X. In his recent tweet, he compared the HEX crypto based on PulseChain with eHEX which is based on Ethereum.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="790" height="490" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-272.png" alt="" class="wp-image-196784" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-272.png 790w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-272-300x186.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-272-768x476.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-272-750x465.png 750w" sizes="(max-width: 790px) 100vw, 790px">
  <figcaption class="wp-element-caption">
   Source: X
  </figcaption>
 </figure>
</div>
<h2 class="wp-block-heading" id="strong-hex-crypto-volume-analysis-strong"><strong>HEX Crypto Volume Analysis</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (HEX), Volume (HEX), Daily Trading USD Volume (HEX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=hex&amp;pt=HEX&amp;df=2023-09-13T18%3A29%3A59.827Z&amp;dt=2024-03-13T18%3A29%3A59.827Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd%3Bdaily_trading_volume_usd&amp;wax=0%3B1%3B2&amp;wc=%232e934a%3B%231b2f87%3B%23FF5B5B&amp;ws=%7B%22node%22%3A%22area%22%7D%3B%3B" scrolling="no"></iframe>
<p>Moreover, the volume analysis shows that HEX crypto saw an increase in the volume and price both before the price crash. However, the volume has also dropped to $4.85 Million intraday which is nearly 30% more than yesterday.</p>
<p>The volume to market capitalization ratio has dropped below 1% suggesting less than 1% volume inflow as compared to the market cap. It has a live market capitalization of $416.43 Million and has slipped to the 220th position in the overall crypto market.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-whales-holdings-did-not-fall-much-despite-sharp-fall-in-hex-price-strong"><strong>Whales Holdings Did Not Fall Much Despite Sharp Fall In HEX Price?</strong></h2> <iframe loading="lazy" title="Santiment Chart: Percent of Stablecoin Total Supply held by Whales with more than 5 million USD, Price (HEX), Price Volatility 1d (HEX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=hex&amp;pt=HEX&amp;df=2023-09-13T18%3A29%3A59.827Z&amp;dt=2024-03-13T18%3A29%3A59.827Z&amp;emcg=1&amp;emhwm=1&amp;wm=percent_of_whale_stablecoin_total_supply%3Bprice_usd%3Bprice_volatility_1d&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%2326C953%3B%23FFCB47&amp;ws=%3B%3B%7B%22node%22%3A%22area%22%7D" scrolling="no"></iframe>
<p>The above chart displays the holdings of whales in the HEX crypto with comparison in the price. Whale holdings have been on the rise in the last three months. The HEX cryptocurrency also noticed a price surge in the recent period.&nbsp;</p>
<p>Moreover, the HEX crypto fell sharply in the recent sessions, however, the whales holdings did not experience a sell-off. It was observed that the whale holdings dropped nearly 1% to 55% and surged back to 56% as the price dropped.</p>
<h2 class="wp-block-heading" id="strong-hex-crypto-indicator-analysis-strong"><strong>HEX Crypto Indicator Analysis</strong></h2>
<p>The technical indicators imply a bearish outlook in the short term. The HEX cryptocurrency price fell sharply after it failed to sustain above the 200-Day EMA, indicating a continuation in the trend on the bearish side. The price crashed, breaking below the 50 and 20-Day EMAs, suggesting a negative trend.</p>
<p>At the time of writing, the RSI indicator was placed at 26.64 points and that of the SMA line was at 49.84 points. Both the RSI and SMA line were placed below the mean line proposing a negative sentiment developed.</p>
<h2 class="wp-block-heading" id="strong-hex-crypto-forecast-2024-strong"><strong>HEX Crypto Forecast 2024</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="472" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-1024x472.png" alt="HEX" class="wp-image-196785" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-1024x472.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-300x138.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-768x354.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-1536x708.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-750x345.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273-1140x525.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-273.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: HEX/USD Chart by TradingView
  </figcaption>
 </figure>
</div>
<p>The price action analysis shows that the HEX crypto made a breakdown of an ascending triangle pattern and fell sharply towards the multi-month low value. The long-term trend was already below the 200-Day EMA.</p>
<p>The breakdown of the pattern indicated a trend reversal in the short term and a continuation of the long-term trend. The crypto may drop further if the bulls fail to lift the price near the multi-month low value of $0.0028.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>The <a href="https://www.thecoinrepublic.com/2024/02/07/hex-crypto-approaches-50-ema-a-key-decision-point-for-traders/" target="_blank" rel="noopener noreferrer nofollow">HEX crypto </a>crashed nearly 80% in the last four intraday sessions to reach a multi-month low value of $0.00287. The crypto could not attract buyers intraday and lost nearly 29% intraday. The selling pressure is extreme which may keep on breaking the lower supply levels in the short term.&nbsp;</p>
<p>On the lower side, the $0.0010 level may be a major support and the price may halt the further fall. The technical indicators imply a bearish outlook in the short term as well as in the long term.&nbsp;</p>
<p>The volume has dropped significantly in the recent sessions. The whale holdings saw a drop of nearly 1% to 55% with the price drop however surged back to 56% in the last couple of sessions</p>
<h4 class="wp-block-heading"><strong>Technical levels:</strong></h4>
<ul>
 <li>Support Levels: $0.0028 and $0.001</li>
 <li>Resistance Levels: $0.0049 and $0.0076</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

HEX Crypto Crashes 29% Intraday: Is The Downfall Over Yet?

Table of Contents

Thecoinrepublic.com

Other articles published on Mar 13, 2024

Freelance Job Market Analyzed: Impact of AI on Various Professions

Crypto Trader Says Bitcoin Could Hit $100K This March as Green Bitcoin ICO Raises $3.5M

AI’s Influence on Gen Z’s Music Listening Habits

Ethereum Surges Past $4,000: Excitement and Caution Among Investors

Google’s Ban on Election Queries in Gemini AI Sparks Debate

Block Production Stopped on Blast Network During Ethereum (ETH) Dencun Upgrade! First Statement A...

Join our free newsletter for daily crypto updates!