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HFT Crypto Analysis: Hashflow Gains 175% in a Week – Next Levels to Watch
The cryptocurrency market is known for its unpredictability and volatility, and the recent surge of Hashflow (HFT) has left many traders stunned. In this analysis, we will delve into the current market trends and provide insights on potential future price movements.
On June 28th, HFT began an extraordinary upswing, with a staggering 175% gain in just seven days. This massive rally was triggered by Binance’s announcement of supporting HFT deposits on the Solana network, sending daily volumes soaring to $97 million, roughly 25 times its recent average. While this rapid growth has been astounding, it is essential to assess the chart structure and momentum indicators to determine whether this trend will continue or correct.
Technical Analysis:
The current price action has resulted in a decisive breach of key resistance levels, with Hashflow now trading above $0.12. This level, marked in cyan on the chart, represents a significant bullish market structure break (MSB). The retest of the previous high at $0.10 is essential to confirm this trend’s continuation.
The Relative Strength Index (RSI) has reached 86, indicating overbought conditions. However, it’s crucial to recognize that an overbought reading does not necessarily imply a pullback. On the lower timeframe charts, we have identified the $0.12 level as short-term support.
As we examine the weekly chart of HFT, we notice a trend of predominantly bearish moves in 2025, with a consolidation phase since April. Although this rally is intact, short-term profit-takers could enter the market to take profits. As such, traders can consider waiting for a clean retest of demand zones before entering long positions again.
Conclusion:
While it’s difficult to predict the future with certainty, it appears that Hashflow has entered an extended phase. Traders can choose not to FOMO (Fear Of Missing Out) and instead wait for potential price dips to initiate long positions.
Source: ambcrypto.com
