• Fri. Jun 21st, 2024

Price Analysis of BHPCoin (BHP) and HunnyDAO (LOVE)

Feb 14, 2022

In a 24-hour window, BHPCoin (BHP) has reportedly earned the opportunity of displaying its strength to the entire cryptocurrency industry. The digital asset has achieved a rally that may be envied by any cryptocurrency. According to statistics, BHPCoin has achieved a 146.77% rally that has pushed its price up to $1.33 per BHP.

Given the strong positive sentiments of the investors, it is being predicted that the rally may go a long way. Therefore, the investors may get to witness a strong rally and BHPCoin’s price may observe a tremendous surge.

On February 7, BHPCoin’s unit value was sitting at $0.24 per BHP, but at the moment, it is at a high price of $1.33 per BHP. Even the trading volume for BHPCoin has surged tremendously by 1837.96%, currently demonstrating a figure worth $16,977,733.

For now, BHPCoin is all greens, which is reassuring for the bulls and the investors with positive sentiments. If the intentions of the investors remain positive and bullish, then BHPCoin may be able to hit its first strong resistance mark of $3.28 per BHP.

If the momentum keeps rising in pushing BHPCoin’s price higher, then BHPCoin may successfully hit its second strong resistance mark of $5.16.

BHPCoin may record a strong resistance from the bears once it reaches the second strong resistance mark. The bears may try to increase the selling pressure to cause fear among the investors and drag BHPCoin’s price lower.

At this point, the BHPCoin bulls may gain the opportunity of showing their prowess and influence over the BHPCoin market. If they manage to increase their investments and defeat the bears in the process, then BHPCoin may successfully hit the third strong resistance mark. At the time of writing, BHPCoin’s third resistance mark is $6.64 per BHPCoin.

Another name among the top gainers in the past 24-hours is HunnyDAO (LOVE). HunnyDAO has also observed a great rally in the past 24-hours, having grown at a rate of 129.24%. Due to the rally, the price of HunnyDAO has grown up to $0.668 per LOVE.

At the moment, the spirits of the investors are high in favor of HunnyDAO, and they may continue pressing harder to cause a huge impact. The high determination of the investors may help them to hit the first strong resistance mark of $1.099 per LOVE.

As HunnyDAO hits its first strong resistance mark, the bears may try to pull HunnyDAO by increasing their selling power. They may try and intensify their selling activity in order to pull HunnyDAO below the first strong resistance mark. However, if they fail, then the bulls will have the situation under control, and they may push HunnyDAO up to $1.45.

As of now, the $1.45 figure is the second strong resistance mark for HunnyDAO. If the bulls continue with their buying spree, then the third strong resistance mark of $1.69 for HunnyDAO may be achievable.

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