Join Our Telegram channel to stay up to date on breaking news coverage
Hex price took crypto traders by surprise when it rallied 23% on Thursday to brush shoulders with $0.0255. This followed the blockchain project founder Richart Heart’s tweet that the network’s PulseChain v3 testnet is operating. Although the price turned red in the early Asian trading hours on Friday, the technical formation shows that the token is primed for a massive breakout.
Richart Heart’s PulseChain Teaser
HEX’s PulseChain v2 public testnet is open, with Richard Heart, the blockchain company’s founder informing the crypto community that a private v3 testnet was operational.
Heart teased a PulseChain screen shot in a January 12 tweet saying, “It’s working on private v3 testnet.”
Just some pulsechain teaser. Its working on private v3 testnet. pic.twitter.com/JAEa2XCU2l
— Richard Heart (@RichardHeartWin) January 12, 2023
News on PulseChain first reached the public ear in mid-2021, through an official press release revealing the project’s intentions to fork the Ethereum code and add “significant enhancements,” including quicker block times and cheaper gas fees.
The press release then read:
PulseChain is a new Blockchain-based cryptocurrency ecosystem that offers significant enhancements over the legacy Ethereum platform.
Noteworthy, the project is supported by Everything Blockchain, a development company, and Overwatch Partners, a venture capitalist (VC) firm.
Where can the HEX price go after such developments?
What A Bullish Flag Means For The HEX Price
HEX rallied 45.55% over a three-day period bouncing off the support at $0.0715 to $0.0254. Rejection from the 100-day exponential moving average (EMA) saw the price turn down to find solace from the $0.0206 level, before yesterday’s recovery.
This price action has led to the appearance of a bullish flag on the daily chart as shown below. This technical formation is a highly bullish pattern pointing to the continuation of an uptrend.
As such, a daily candlestick close above the upper boundary of the flag at $0.02445, embraced by the 100-day EMA (red line), would confirm an upward breakout with the first line of resistance emerging from Monday’s swing high at $0.02545. Other barriers are found at the 50-day EMA (blue-line) at $0.0296 and the $0.030 psychological level, before reaching the technical target at $0.03565. Such a move would represent a 46.75% rise from the current price.
HEX/USD Daily Chart
Apart from the bullish chart pattern, the position of the relative strength index (RSI) in the positive region added credence to the positive outlook for the HEX price. The price strength at 54 suggested that there were still more buyers than sellers who could push the price higher.
In addition, the moving average convergence divergence (MACD) indicator was moving upward toward the neutral line. This was a signal that the market was still bullish and favored the upside. Note that HEX’s upward trajectory would gain momentum once the MACD crosses the zero line into the positive region.
On the downside, the parabolic SAR was still negative after turning bearish and flipping above the price on Wednesday. This shows that overhead pressure from the 100-day EMA and the upper boundary of the flag is very intense both at $0.0245, suggesting a continued correction.
As such, failure to rise above the said level would trigger massive sell orders that could see the price pull back toward the lower boundary of the technical formation at $0.0208. If this support is lost as well, the HEX price will drop below the flag with a free-fall to the $0.0175 support floor being the next logical move. Traders could expect HEX to take a breather here before kick-starting an uptrend.
C+Charge (CCGH) – A Promising Alternative To HEX In Presale
As the electric vehicles (EV) trend continues to grow, green cryptos allowing peer-to-peer (P2P) vehicles sustainably charge via blockchain technology have entered the market. That is why C+Charge is doing so well.
The number of EVs in the US increased by 87.5% in the first half of 2022, while the growth in charging points is 31%. C+Charge aims to accelerate the growth of charge stations with a unique payment solution. It offers a one-of-a-kind payment platform built powered by blockchain technology and a token with real-life utilities.
C+Charge prides itself as a pioneer in using blockchain technology for sustainable EV charging. Also, considering its large fan base, the C+Charge pre-sale has been doing exceedingly well since it started and has sold up to $259, 0000. According to recent reports, the raise amount has doubled in the last 12 hours, pointing to increasing investor interest in C+Charge.
🤯Fact check🤯
✅EVs can be charged even in the rain
✅EVs’ range is between 100-300 miles
✅With rapid charger, charging time is only around 30 minutesVisit our website to learn more
➡️https://t.co/ixe18bPqzI pic.twitter.com/ASKEf6cKnY— C+Charge (@C_Charge_Token) January 12, 2023
The native token for the C+Charge ecosystem is CCHG, with which holders can use to pay for power and download the coin’s mobile app. This also makes it possible to track the performance of the EV car and know when it needs repair.
Related News:
FightOut (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses
Join Our Telegram channel to stay up to date on breaking news coverage
Source: https://insidebitcoins.com/news/hex-price-prediction-as-founder-richard-heart-teases-pulsechain-launch