• Decreased by 31% from its peak on August 9, which was $0.61, to currently $0.51.
• Trading volume increased to $55.6 million (167% higher than the weekly average).
• Market capitalization has shrunk to $32 million amid a technical correction.
• Price movement shows that the Relative Strength Index (RSI) is approaching oversold territory with a 14.2% decline over 24 hours.
Market context
• No specific negative factors have been identified affecting HEI in particular.
• Broader regulatory developments include the cryptocurrency report released by the White House and the GENIUS Act.
• Technical correction after unsustainable momentum - a familiar pattern for profit-taking.
• The price is currently testing the lower limit of the Bollinger bands, indicating a potential state of overselling.
Trading considerations
• Key support area: $0.50 (a vital psychological level).
• Resistance level: $0.61 (requires reclaiming the previous high).
• The sharp increase in volume during the decline indicates a potential opportunity for accumulation.
• Wait for confirmation of signals before entering positions - potential double bottom pattern forming.
• Monitor volume trends to look for a return of buyer interest at support levels.
Forecasts
• Short-term caution is necessary despite oversold conditions.
• Technical indicators suggest a potential price rebound from current levels.
• The risk remains for an additional decline if the support level of $0.50 is broken.
