- Bullish HEX price prediction ranges from $0.09 to $0.1
- The HEX price might also reach $0.12 soon.
- HEX bearish market price prediction for 2021 is $0.063.
This HEX Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our HEX price analysis and prediction.
Among the cryptocurrencies that are rallying this year, HEX is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, HEX has been around since 2019.
Can HEX reach $0.12 in 2021? We will find out shortly. But before we proceed to our HEX analysis, let us first answer the question “What is HEX?” in this HEX prediction 2021 article.
What is HEX?
HEX is an ERC20 token launched on the Ethereum network. HEX is designed to be a store of value to replace the Certificate of Deposit as the blockchain counterpart of that financial product used in traditional financial markets. HEX is also designed to leverage off the emerging DeFi (Decentralized Finance) ecosystem in cryptocurrencies within the Ethereum network.
HEX uses the Ethereum network for the transaction layer (sending and receiving HEX tokens, as well as interacting with the HEX smart contract), whilst the consensus code and staking mechanism are contained in the HEX smart contract.
Now that we are clear about HEX do you think HEX will be beneficial crypto in 2021? Join me and let us see the charts in this HEX price analysis and HEX price prediction.
HEX Current Market Status
As of the time of writing this HEX price analysis, HEX trades at $0.083 with a 24-hour trading volume of $32,109,615. The price of HEX has decreased by 5.51% in the last 24 hours.
Furthermore, HEX has a current circulating supply of 173.41B HEX. Currently, the top cryptocurrency exchanges for HEX are Binance, OKEx, Huobi Global, FTX, and Upbit.
Now, let’s proceed to the next part of this HEX technical analysis for 2021.
HEX Price Analysis 2021
Currently, HEX holds 44th place on CoinMarketCap. But will the latest upgrades, development, and changes in the HEX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this HEX price prediction article.
In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a sloping parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. Moreover, this pattern represents a short-term bullish.
As shown above, at the beginning of this month, HEX turned from its bear to bull trend. This is the result of the high trade volume that occurs during that time.
The Relative Strength Index (RSI) is above 52, which means that HEX is in a neither overbought nor oversold state. With these traders need to stay cautious while trading, turning away from further losses.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of HEX
Since the start of 2021, HEX’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, HEX has a competitive market this 2021.
HEX Price Prediction 2021
The chart below shows that HEX has performed great over the past few days. Moreover, the HEX price shows a bullish trend. If this trend continues, HEX might run along with the bulls, overtaking its $0.1 resistance level and move higher.
Conversely, if the investors turn towards the crypto, the bears might take over and push HEX from its uptrend position. In simpler terms, the price of HEX might plummet to almost $0.078, a bearish signal.
Meanwhile, our long-term HEX price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.
HEX has a bright future ahead of it in 2021. With the ongoing developments happening within the HEX ecosystem, as well as in the overall crypto market, we may see HEX reach new heights.
Bullish HEX price prediction 2021 is $0.12. As said above, it may even reach its new ATH if investors have decided that HEX is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Users can obtain HEX tokens by purchasing them from cryptocurrency exchanges such as XT.COM, Uniswap (V3), HitBTC, BitMart, and Bitcoin.com Exchange.
HEX is a good investment in 2021. However, HEX has a high possibility of reaching new heights this year.
Yes, it’s very much possible that HEX might reach $0.15 in the near future as per the current bullish trend.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.