Connect with us
Active Currencies 15436
Market Cap $3,211,047,326,962.20
Bitcoin Share 56.70%
24h Market Cap Change $-1.66
Analysis

Hoppy crypto surges 48%, targets new ATH as bulls take charge

2min Read

The OBV has slowly trended higher to reflect steady buying pressure behind Hoppy crypto.
Posted:
Avatar
Journalist
Hoppy crypto surges 48%, Targets new ATH as bulls take charge
Avatar
Journalist
Posted:

Share this article

  • The retracement to $0.000198 was followed by strong gains
  • The retest of the local highs is likely to result in HOPPY climbing much higher

Hoppy [HOPPY] has been up 48.13% since its low on Monday, the 28th of October. It maintained the strong uptrend it has been on since breaking the $0.000183 level in mid-October.

The meme coin saw rejection at the $0.000313 level. It saw a retracement to $0.000198, forming the aforementioned low. Hoppy crypto is just 7.1% beneath its all-time high at $0.0003159 that was set earlier on Friday, the 31st of October.

At press time, HOPPY only had a $123.4 million market cap and a 24-hour trading volume of $6.99 million. The meme coin sector has performed well in recent weeks, but investors and traders need to wait for a strong Bitcoin [BTC] run before altcoins can begin to multiply in value.

Hoppy crypto set for another impulse move higher

HOPPY 1-day Chart

Source: HOPPY/USDT on TradingView

In a strongly trending market and with an asset in price discovery, Fibonacci levels can be invaluable in setting targets for traders. HOPPY saw a retracement to the 61.8% level after breaking the local resistance level at $0.000183.

This pullback allowed the RSI to reset and move toward neutral 50. In the past few days, the RSI climbed above 60 to signal strong bullish momentum behind the meme coin.

The OBV has slowly trended higher to reflect steady buying pressure behind Hoppy crypto. Continued demand will likely drive the prices further higher.

Is your portfolio green? Check the Hoppy Profit Calculator

The Fibonacci extension targets showed that $0.000357, $0.000429, and $0.0005 are the next bullish targets for HOPPY. Given the small market cap of the meme coin, it is possible that the price could go much higher.

This would depend on the token’s popularity, social media engagement, and hype. With so many meme coins vying for attention, HOPPY is not guaranteed to go parabolic, and investors must allocate capital according to their risk appetite.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

 

Previous:
Next:

Share

Avatar
Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.