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Hex Price Soars 26% as Exchanges Relist the Token - Bulls Target $0.005 Mark

Highlights:

  • Hex price soars 26% to $0.004 as trading volume spikes 54%.
  • The recent rally came as various exchanges relisted the token, including Uniswap. 
  • With Hex price breaking out of the consolidation channel, can the bulls reach the $0.005 mark?

The HEX price is boasting a bullish outlook, soaring 26% to $0.004, as the trading volume spikes 54% to $837K. This indicates intense investor confidence in the Hex market. HEX token is now boasting a 44% surge in a week and 101% in a month.

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The recent rally comes as various exchanges relist HEX. Recently, Matcha unbanned and relisted HEX. Moreover, Uniswap has relisted Hex after Richard Heart defeated the SEC and received an official victory. This is after HEX was declared not a Security. Uniswap now lets users swap into HEX on Ethereum, nicknamed eHEX.

HEX Statistical Data

Based on CoinmarketCap data:

  • HEX price now – $0.004
  • Trading volume (24h) – $837K 
  • Market cap – $2.3 billion
  • Total supply – 633.54 B
  • Circulating supply – 572.17 B
  • HEX ranking – #3445

Hex price has jumped 26% to $0.004, breaking above a consolidation phase. However, the price has rebounded swiftly, breaking above both moving averages and signaling potential upside. If buyers maintain momentum, HEX could push toward its first resistance at $0.0043.

A successful break above this level may pave the way for a test of $0.0047. Should bullish pressure persist, Hex’s price could aim for $0.0055 in the near term. However, fading momentum around the current zone might lead to further consolidation, delaying the upside movement.

On the downside, ADA’s support structure remains crucial in determining its next move. The price recently bounced from $0.003, making it the first key support. If sellers regain control, a retest of $0.0037 could be on the horizon, potentially exposing HEX to deeper declines. The next line of defense sits at $0.003, coinciding with the 50-day MA. A breach below this level could see the bears target $0.0028, a level that could trigger strong buying interest. 

Hex Price Eyes $0.005 Mark

The Hex price has been gaining strong upward momentum, with its recent breakout above the consolidation channel reigniting investor optimism. The surge in trading volume and bullish sentiment suggest that HEX could push toward the key psychological level of $0.043, with $0.005 emerging as a potential mid-term target. If Hex’s price can maintain its current trajectory and sustain support above critical levels, its path toward higher valuations remains intact.

Hex price
HEX/USD 1-day chart: TradingView

Technical Indicators Signal Further Upside

Notably, the RSI has risen from the 30-oversold region, currently reading at 58.13. If it continues rising towards 65, it may confirm sustained buying interest, strengthening HEX’s bullish case. On the other hand, a dip below 45 could indicate weakening momentum, increasing the risk of a downward shift.

If bulls step in aggressively, HEX could ride the wave higher, but hesitation at key resistance points might invite bears back into play. The next few sessions will be crucial in determining whether this rally extends or fades into another consolidation phase.

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