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HEXUSDC

HEX Token (HEX) • Correction now or double top?HEX is flashing another high probability correction. I honestly have no clue how deep can the correction go but I outline the most significant zones. Important to note that this last rally up produced signifiant leading volume on the way up to the top. One thing that is still missing is a daily bearish divergence. Which we could get if HEX make a visit near 0.55 for then massive weakness and enter into a more aggressive correction. At this present time while we dont have more price action the criteria to return to bull trend is to regain 0.445 and RETAIN it since there is a chance we can also produce a double top (fakout) here. 0.25 would be ideal price range to bounce back to trade above 0.31. If that level is lost then HEX more like to enter into a longer and deeper correction. Volumes produces in the last 3 months total around HALF BILLION tokens traded. This is very high but at the same important to note that the supply of this token is around 300B. Likewise in the context os all supply the trade volume is not that big BUT it is significant in context of the relative strength of volume over past weeks. Generally speaking when we see this massive volumes at the end/top of a trend probability of pullback is big. Important to re-emphasise that despite seeing here pullback my criteria to classify it as a "bear market" is not yet meet (like trading bellow 0.25) but those who are long for awhile probably opportunity to take some profit aside and those who entered recently should definitely consider their entire position on this very overpriced token while it doesn't get even nastier. It's a probabilities game and its context depends a lot where a trader got their average entry in.
by D7R
7
HEX/USDC retrace on smaller degree correctionHi everyone, happy trading. Here on HEX/ USDC we are currently moving up wave III (light blue) and are inside the 4th or 5th wave of the smaller degree. One of two things can happen according to EW Theory. We can either finish another leg up into the 10-13cents area for an ending diagonal . But this is unlikely since we've already had RSI divergence for the small wave 5 (red v). Or we are already inside the bigger Wave 4 (light blue) correction and are headed down to retest the 5 cents area. After this correction is finished we will be long again for the 5th wave of the larger degree (light blue) and end up somewhere between 25-30cents. UNISWAP:HEXUSDC Limit orders around 5-6 cents could potentially be a good entry. Long term target for the end of the light blue wave 5 is around 25-33cents. Longer term target for the SuperCycle (White) is $1.8-$2.00. Patience will be a virtue on this instrument. Happy trading and good luck!
Long
by Since82ny
2