Decreased by 6.67% in the last 24 hours, underperforming the broader cryptocurrency market (-0.75%).
Key factors include profit-taking after recent exchange listings, negative technical signals, and a slowdown in altcoin momentum.
Profit-taking after Upbit Surge – Traders secured profits after HUMA rose by 37% last week following its listing on Upbit on July 25.
Technical Breakdown – The price fell below critical support at $0.0324 (pivot point) and the 7-day SMA ($0.0347), triggering stop-loss orders.
Weakness in Altcoins – The CMC Altcoin Season Index dropped by 25% over the past 30 days, reducing risk appetite for projects like HUMA.
Deep Dive @Huma Finance 🟣 #HumaFinance
1. Profit-taking After Market Momentum (Negative Effect)
Overview: HUMA rose by 37% last week after its listing on Upbit on July 25 (CoinDesk), driving its 24-hour trading volume to $27.2 million (+40% compared to the previous day). However, the increase halted at the 23.6% Fibonacci retracement level ($0.045), prompting traders to secure profits.
What This Means: Short-term traders capitalized on the liquidity from the Upbit listing, creating selling pressure. The increase in trading volume over 24 hours (+40%) confirms distribution, while the RSI-7 (35.59) indicates oversold conditions but lacks immediate reversal catalysts.
2. Technical Breakdown (Negative Effect)
Overview: HUMA broke below the 7-day SMA ($0.0347) and pivot point ($0.0324), with the MACD histogram (-0.00032) confirming negative momentum.
What This Means: Technical traders likely exited when the price lost the support area of $0.032–$0.035. The next critical level is the 24-hour low at $0.0306 – a break here could extend losses towards the 2025 low of $0.028.
What to Watch: A close above the 7-day SMA ($0.0347) may indicate stability, while ongoing trading volumes below $20 million suggest continued weakness.
3. Slowdown in Altcoin Sentiment (Mixed Effect)
Overview: Bitcoin dominance rose to 58.69% (from 59.32% yesterday), reflecting capital rotation away from altcoins. HUMA's correlation with Bitcoin increased over the past 30 days to 0.84, reinforcing its decline in a risk-off environment.
