Can Humanity Protocol (H) Build on Its Recent 19% Rally?

• Humanity Protocol climbed 19% to trade at $0.071.
• Daily trading volume jumped by more than 65%.

Yesterday’s bullish rally did not carry over today; instead, the crypto market has brought in mixed sentiment. Bitcoin, the largest asset, currently trades at around $117.9K, while the largest altcoin, Ethereum, is priced at $2.9K. The rest of the assets have been on a swing, with Humanity Protocol (H) recording a 19.15% gain

In the early hours, the asset was trading on the downside, at around $0.0578. With a powerful push from the bulls, the price likely mounted toward a high of $0.08949, breaking its key resistance ranges As of this writing, Humanity Protocol trades within the $0.07124 mark

In addition, the asset’s daily trading volume has increased by over 65%, reaching $298 million. Also, it is worth noting that the market has faced a liquidation of $4.93 million worth of Humanity Protocol in the last 24 hours, according to Coinglass data

Zooming in on the weekly price chart, the asset has plunged by over 28.44%. Humanity Protocol began trading the week at $0.099, and with the bears taking the lead, the price has steeply dropped toward the $0.046 zone

What Lies Ahead for the Humanity Protocol?

If Humanity Protocol’s potent bulls step in, the bullish momentum might push the price to an immediate resistance at $0.07129. With the positive price movement gaining enough strength, the H price could climb toward its crucial resistance above $0.07131. Conversely, assuming the bearish correction in the H market, the price could retrace to the nearest support at $0.07118. With further losses, the asset is expected to break through a few key support ranges between $0.07111 and $0.07098

*H chart (Source: TradingView)*The Moving Average Convergence Divergence (MACD) line of Humanity Protocol is settled above the zero line, but the signal line is below it, indicating that a sturdy bullish momentum is building. Moreover, the Chaikin Money Flow (CMF) indicator stationed at 0.13 suggests that a moderate buying pressure is present in the market. Also, the money is flowing into the asset, likely to reinforce the uptrend’s continuation

Notably, the Bull Bear Power (BBP) reading of the Humanity Protocol at 0.026699 infers a moderate bullish dominance. The asset may continue to experience upward pressure, though the strength is not strong. Besides, the daily Relative Strength Index (RSI) found at 57.29 hints at a neutral to slightly bullish momentum, with room to move higher.

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