Analysis of Hex crypto token
First I want to thank all the Tradingview community for all the lessons and ideas presented here. I am new to crypto investing and now have an interest in learning charting analysis. Having viewed ideas from the tradingview community, presented above is an example of my rudimentary application of key chart observations, applied to the current course of the Hex crypto token. Hex is a decentralized cryptocurrency on the Ethereum blockchain which has seen a meteoric rise in adoption due to its proof-of-stake method of inflation, rather than a proof-of-work by mining. Hex assigns inflation to stakers at a 20% annualized inflation rate in which new tokens are minted at end-of-stake. All stakers share in penalties collected from early end of stakers.
After doubling in value 12-fold with increasing returns up to 10,000% Hex appears poised to continue to double in value q 46 days… until I bought it. All of my tokens are staked in annual stakes up to 5 years in length. Because of penalties for breaking stakes earlier than posed, There is no use in worry… it is what it (I refuse to finish a cliche but you know what goes here). This being said, I am enjoying the charting analysis lessons and ideas presented here by the community, and am presenting mine here.
Hex experience a long run up to an ATH of 0.51 and quickly faltered in price down to 0.21 USD. This chart represents a uniform decrease in daily highs and lows down to what I had hoped is a Support value of 0.22 USD, which now appears to be .20 USD. Two tests were defined in the above chart and failed. It was expected that, after reaching a level of support, that the third tap on Support would provide some direction, ideally up. The taps continue however with the last tap falling below the level of Support, albeit with a tiny tiny recovery.
As the jury is still out on this, I now have a tool which I can use to monitor my investment, I will keep this chart, tweak it and learn more from others lessons and ideas presented. I’ll appreciate any comments.
Thank you.
-N
After doubling in value 12-fold with increasing returns up to 10,000% Hex appears poised to continue to double in value q 46 days… until I bought it. All of my tokens are staked in annual stakes up to 5 years in length. Because of penalties for breaking stakes earlier than posed, There is no use in worry… it is what it (I refuse to finish a cliche but you know what goes here). This being said, I am enjoying the charting analysis lessons and ideas presented here by the community, and am presenting mine here.
Hex experience a long run up to an ATH of 0.51 and quickly faltered in price down to 0.21 USD. This chart represents a uniform decrease in daily highs and lows down to what I had hoped is a Support value of 0.22 USD, which now appears to be .20 USD. Two tests were defined in the above chart and failed. It was expected that, after reaching a level of support, that the third tap on Support would provide some direction, ideally up. The taps continue however with the last tap falling below the level of Support, albeit with a tiny tiny recovery.
As the jury is still out on this, I now have a tool which I can use to monitor my investment, I will keep this chart, tweak it and learn more from others lessons and ideas presented. I’ll appreciate any comments.
Thank you.
-N
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