August 22
In the last 24 hours, the price $HUMA has fallen by 4.74%. Technical analysis shows that the relative strength index (RSI) is around 42.16, which is below the 50 mark and indicates a bearish (downward) trend. The MACD histogram is negative, indicating a decrease in momentum. Additionally, the price is below key moving averages, such as the 30-day simple moving average (SMA) at $0.035874.
Looking at the news, on August 15, a partnership with Arf and Geoswift was announced to ensure same-day settlements in Asia. This is a positive signal, but perhaps the market has already priced this information in, leading to a 'sell the news' reaction. Also, in July, $HUMA was added to several exchanges, including Upbit, which may have triggered an initial price increase, followed by sell-offs as traders took profits.
The overall crypto market is also in the red: the total market capitalization has fallen by 1.93% in the last 24 hours. The altcoin season index stands at 42, down 23.64% over the past 30 days, which may indicate capital outflow from altcoins such as $HUMA . Additionally, the fear and greed index is in the neutral zone, indicating a decrease in risk appetite.
Sentiment analysis in the community shows some enthusiasm, but technical indicators and market trends are pulling the price down. High trading volume (over $24 million) may indicate selling pressure. HUMA also has a high circulating supply, so even small sales can significantly impact the price.
Thus, the combination of technical indicators, the overall market downturn, possible profit-taking after the news, and decreased interest in altcoins likely contributed to the price drop.#HumaFinance @Huma Finance 🟣