$HUMA 1Hr – In-Depth Technical Analysis
The price action is unfolding within a clear Elliott Wave impulse pattern, with current movement indicating a Wave (4) correction and setting up for a possible Wave (5) rally.
Wave Structure Overview
Wave (1): Strong initial push with heavy volume, breaking past recent resistance.
Wave (2): Healthy retracement to the previous breakout zone, signaling profit-taking rather than trend reversal.
Wave (3): Most powerful leg so far, marked by consistent gains and minimal pullbacks, reinforcing bullish momentum.
Wave (4): Now pulling back to around 0.03544 (Fib 0.434), a typical correction depth before resuming the uptrend.
Key Levels
Support: 0.0350–0.0354 remains crucial for sustaining bullish momentum.
Resistance:
Minor: 0.0384 (Wave 3 high)
Major Wave (5) targets: 0.03986 (Fib 1.0) and 0.04259 (Fib 1.618)
Candle Action: Smaller-bodied candles are forming after a sharp drop, hinting at seller fatigue at support.
Potential Outcomes
1️⃣ Bullish Scenario (High Probability): Bounce from support → Break above 0.0384 → Advance toward 0.0398–0.0425.
2️⃣ Bearish Scenario (Low Probability): Drop below 0.0350 may lead to 0.0330 before a fresh rally attempt.
#HUMA remains in a bullish continuation pattern as long as the 0.0350–0.0354 zone holds. Breakout confirmation above 0.0384 could trigger strong upside momentum.
