Over the last 24 hours, Huma Finance ($HUMA ) has fallen by 10.15%, continuing a weekly decline of 20.9%. Main reasons:
Technical weakness
Overview: The RSI value with a period of 7 for HUMA is 28.99, indicating oversold conditions. The MACD histogram (-0.00050834) confirms the bearish trend. The price has dropped below the Fibonacci retracement level of 23.6% ($0.0447), with the next support at $0.034 (July low).
What this means: Traders are exiting positions as indicators show a weakening of growth. This is exacerbated by low liquidity (turnover ratio of 0.53). If the price drops below $0.027, it could trigger a chain reaction of stop-losses.
Impact of the overall market
Overview: The total market capitalization of the cryptocurrency market has decreased by 1.12% amid neutral sentiment (fear and greed index 46). Altcoins are showing worse performance compared to Bitcoin, and the decline of $HUMA is nearly 9 times greater than the sector average.
What this means: The high beta of $HUMA (3.07 compared to Bitcoin's 30-day correlation) makes it vulnerable to overall market risks.
Volatility after listing
