Humanity Protocol (H) experienced a 15% surge in the past 24 hours, bringing its weekly gains to over 25%. The altcoin, which had been declining since March 6, reached a high of $0.1127 before facing resistance and entering a potential correction phase. The recent rally was driven by a short squeeze and increased network activity, although indicators suggest momentum is easing.
On the 4-hour charts, Humanity Protocol broke previous resistance levels, trading from a low of $0.0782 to $0.1127. Despite the bullish run, indicators like the Chaikin Money Flow and MACD showed signs of fading momentum. The altcoin's price could face hurdles above $0.13 if it holds above $0.10, but risks dropping below $0.0954 if support fails.
Network activity showed mixed signals, with total transactions increasing by 3% to 39.64 million, while daily transactions dipped. A short squeeze above $0.10 accelerated the rally, but rejection at $0.1127 led to a price drop, indicating a possible correction phase.
Humanity Protocol Surges 15% Amid Short Squeeze, Faces Correction
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