- Humanity Protocol (H) surged over 100% in 24 hours, reaching $0.3430 with 541.8% volume growth.
- Market cap hit $746.98M; sentiment is 61% bullish amid SUI ecosystem integration.
The performance of Humanity Protocol (H) in the past 24 hours has been explosive, as the protocol has increased by more than 100% within one trading session to reach a point of $0.3430. This parabolic action has propelled the token into the limelight, with the volume of trade surging 541.8% in an indication of heightened interest in the market. As per CMC data, the market capitalization of the project is currently at $746.98 million, and the community opinion is 61% bullish conviction and only 39% bearish outlook.
The rally seems to be based on the fact that Humanity Protocol is increasingly integrated into the SUI ecosystem, and it will offer significant utility and infrastructure support. This has been further reinforced by a recent report by Delphi Digital, which emphasizes the innovative nature of the protocol in addressing synthetic identity risks, which is a major concern in decentralized identity verification systems. This ecosystem support and technical trust have provided investors with a great degree of confidence in the ongoing price growth.
Technically, the price action depicts a dramatic breakout of a long period of consolidation that was experienced during the months of August and September. The token had been trading within a narrow range around the level of $0.05 before it started its October rally. The 50-day EMA of $0.10710 and 100-day EMA of $0.07960 are far below the current prices, which proves the power of the bullish trend. The white curve that is the 100-day EMA has started to curve upwards, indicating that there is better long-term momentum.
What Next For Humanity Protocol Price?
Source: Tradingview
But technical signs are raising red flags on imminent overextension. The RSI has risen to the level of about 78, which is in the overbought region. Extreme readings of this nature usually lead to consolidation or retracement when early buyers are making profits. The MACD indicator indicates a strong divergence of the histogram, which is growing exponentially, which is an indication of strong bullish momentum, but also indicates that the move is approaching exhaustion.
This rally has been reported to increase whale activity, which can be a two-sided sword, as it can bring liquidity and validation and also create a risk of volatility. Nevertheless, these hot technical readings notwithstanding, the momentum is strong, and should Humanity Protocol be able to develop support around these levels, this may be the start of a bigger structural uptrend as opposed to a speculative spike.
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