Humanity Protocol rallies 15% – But can demand outrun token dilution?
Humanity Protocol (H) experienced a 15% price rally on December 29th, accompanied by a significant increase in Open Interest, indicating strong speculative interest. However, the token failed to maintain its upward momentum and retested the $0.16 support level. A major concern is the upcoming token unlock on January 25th, where 105.35 million H tokens (worth $17.56 million) will be released, potentially creating significant selling pressure. While the daily chart structure remains bullish and the RSI suggests strong momentum, traders are warned of a potential price drop to Fibonacci retracement levels of $0.112 or $0.083. The token is currently trading in a $0.15-$0.18 range, and a breakout above $0.18 could signal a buying opportunity. Despite the threat of dilution from monthly unlocks, strong demand could potentially counteract the selling pressure. Traders are advised to monitor the situation closely.
ambcrypto12/31 01:12
