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The HEX price surged 11% in the last 24 hours after plunging 28% in the past week to trade at $0.004297 as of 11:20 p.m. EST on trading volume that jumped 51% to $2.7 million.
This comes as Interpol issued a Red Notice for Richard Schueler, popularly known as Richard Heart, the founder of Hex, on allegations of tax fraud and assault.
Schueler has also been placed on Europe’s most wanted fugitives list.
However, Heart has remained active on social media, posting comments that indirectly address the accusations.
If the haters really wanted to get me down they could raise more than the $27M I did for medical research. Write free self help books better than my sciVive and Fix The World. Work in the courts for legal precedent for P2P publishing software. Found things that work flawlessly…
— Richard Heart (@RichardHeartWin) December 22, 2024
HEX Price Aims For A Bullish Reversal Pattern
The HEX/USD chart analysis on the 4-hour timeframe reveals a distinct reversal pattern after a sustained bullish rally. According to GeckoTerminal data, the HEX price formed a rounded top after hitting the $0.006991 resistance, a bearish reversal signal indicating exhaustion in the uptrend.
As a result of the downtrend, the price of HEX has now dropped below both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as major resistance levels at $0.005144 and $0.004627, respectively.
The price has shown a minor recovery, attempting to reclaim the 50-day SMA, but it remains under pressure, as evidenced by the prior sell-off.
The Relative Strength Index (RSI) currently reads 44.63, indicating weak momentum but not yet in oversold territory. This leaves room for a further move down before a potentially more substantial rebound.
Meanwhile, The blue Moving Average Convergence Divergence (MACD) line is slightly above the orange signal line, suggesting ongoing price recovery. The histogram shows diminishing bearish pressure, hinting at a potential crossover for a bullish reversal in the near term.
In the short term, HEX/USDT is likely to retest the $0.0046 (200-SMA) support. If this level holds, the price could recover towards $0.0051, the resistance level represented by the 50-SMA. A breakout above this level with increased volume would signal renewed bullish momentum, targeting the next resistance at $0.0057.
However, if the price fails to maintain above the $0.0042 support, it could trigger a further decline, potentially revisiting $0.0040 or even lower support levels near $0.0038.
As the HEX price surges, investors looking for new opportunities might consider a new meme coin ICO called Flockerz (FLOCK).
According to 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, $FLOCK has the potential to be the next 100X meme coin.
Flockerz: The People’s Meme Coin
Flockerz has raised over $7.6 million in its presale as investors buy into its unique vote-to-earn (V2E) mechanism, a feature designed to empowers its community to steer its future.
Put simply, token holders are paid in FLOCK to vote on key proposals.
With V2E, Flockerz is setting a new standard for decentralized governance, allowing the community to influence the project’s direction by voting directly through its community-driven governance system, Flocktopia.
Everyone in Flocktopia is always here to lend a helping hand no matter what you need!
Even if it's just a little support. 💙💙 pic.twitter.com/b6zuvBbf41
— Flockerz (@FlockerzToken) December 15, 2024
In Flocktopia, decisions about the project’s future are made collectively by “The Flock,” the community of $FLOCK holders. Every member has a say, making the platform a truly decentralized and inclusive environment.
In addition to V2E rewards, users can also earn passively through the platform’s staking mechanism, which has a sky-high annual yield of 365%.
To join the presale, you can buy $FLOCK on the official website for $0.006504 per token using BNB, ETH, USDT, or bank card.
Buy before a price hike in less than 2 days to secure the best deal.
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