Huge Volume Pouring Into Hydra. Is the Bloodbath Finally Over?

10 mar

HYDRAUSDT has seen a massive decline of 99.4% from its peak, and it has found support at 30 cents, but is the bottom finally in?
The trading volume has been high lately and there is a possibility of a trendline breakout and backtest.
RSI is close to making higher highs, but the bulls need to push beyond the 92-cent range to avoid a hidden bearish divergence.
1 week RSI is also finally above 50, for the first time since Oct 2021.
Stochastic RSI looks bullish after crossing up from oversold levels, and the price is currently above the Volume Profile Point of Control.
MACD seems to have avoided a bearish cross, indicating the possibility of a sustained rally. However, if there is a market sell-off, it could empower the bears and halt the bullish advance. Ideally, it is desirable to see profit-taking with the fresh money going into projects that have not rallied yet.

I have learned the hard way that high-staking rewards are not always trustworthy when I invested heavily between $11-$14.
At that time, Kucoin was paying around 40%, but the current rates have dropped to 15%.
Since then, I have gained more hydra than my initial position, but the value of my investment has plummeted drastically. I have added more to my position at 60 cents.

The current market capitalization is around 17 million, with approximately 19 million coins in circulation, and most of them are currently being staked.
The staking rewards may be contributing to the selling pressure, As price has lingered below the issue price for some time.

Im confident that hydra will have its time, hopefully that time is soon.
Hydra sounds like an exciting project on paper, so it is sad to see its price decline so drastically.
For more information, please visit hydrachain.org/.

As we all know, the crypto market is unpredictable, so it is essential to conduct thorough research and due diligence before investing

Speculative Setup, DYOR.
Good Luck!