- Bullish HEX price prediction for 2023 is $0.1028 to $ 0.2302.
- Hex (HEX) price might reach $0.3 soon.
- Bearish HEX price prediction for 2023 is $0.02557.
In this Hex (HEX) price prediction 2023, we will analyze the price patterns of HEX by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.
Hex (HEX) Current Market Status
Current Price
$0.06855
24 – Hour Trading Volume
$16,525,112
24 – Hour Price Change
5.29% up
Circulating Supply
173,411,074,413
All – Time High
$0.5561 (On November 16, 2021)
What is Hex (HEX)?
HEX is an ERC20 token that was launched in 2019. HEX is the blockchain-based alternative of the certificates of deposit (CD), which are utilized in traditional financial markets. Notably, HEX utilizes Proof of Wait (PoWa) instead of Proof of Work (PoW). PoWa enables users to stake cryptos in the network and earn interest (38% APY) over it.
HEX holders can stake batches of HEX tokens for predetermined periods of time, just as traditional CDs give an improved interest rate to consumers who agree to leave a solid mass deposit unopened for a predetermined period of time.
Hex (HEX) Price Prediction 2023
Hex (HEX) ranks 201st on CoinMarketCap in terms of its market capitalization. The overview of the Hex Price prediction for 2023 is explained below with a daily time frame.
In the above chart, Hex (HEX) laid out a descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.
At the time of analysis, the price of Hex (HEX) was recorded at $0.07039. If the pattern trend continues, then the price of HEX might reach the resistance levels of $0.09523 and $0.12705. If the trend reverses, then the price of HEX may fall to the support of 0.06560 and 0.05756.
Hex (HEX) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Hex (HEX) in 2023.
From the above chart, we can analyze and identify the following as the resistance and support levels of Hex (HEX) for 2023.
| Resistance Level 1 | $0.10288 |
| Resistance Level 2 | $0.23020 |
| Support Level 1 | $0.05292 |
| Support Level 2 | $0.02557 |
As per the above analysis, if Hex’s (HEX) bulls take the lead, then it might hit and break through its resistance level of $0.2302.
Conversely, if Hex’s (HEX) bears dominate the trend, the price of HEX might plunge to $0.02557.
Hex (HEX) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Hex (HEX) are shown in the chart below.
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of Hex (HEX) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the HEX price lies below 50 MA (short-term), indicating its downtrend. Hence, HEX is in a bearish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of HEX is at 45.75. Therefore, this indicates HEX is moved past the oversold state. Yet, it confirms the buy signal.
Hex (HEX) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Hex (HEX) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of HEX lies in the range of 17.622 pointing out a weak trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of HEX lies above 50, indicating high volatility.
Comparison of HEX with BTC, ETH
Let us now compare the price movements of Hex (HEX) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of HEX is dissimilar to that of BTC and ETH. That is, when the price of BTC and ETH decreases, the price of HEX also increases. Conversely, when BTC and ETH price increases, the price of HEX decreases.
Hex (HEX) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Hex (HEX) between 2024 and 2030.
Hex (HEX) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Hex (HEX) might successfully test and surpass its resistance levels to hit $0.7 by 2024.
Hex (HEX) Price Prediction 2025
The significant upgrades in the Hex ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Hex (HEX) price to reach $1.5 by 2025.
Hex (HEX) Price Prediction 2026
If Hex (HEX) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $3.
Hex (HEX) Price Prediction 2027
If Hex (HEX) sustains major resistance levels and stands as a better investment option in the market, then HEX would rally to hit $5.
Hex (HEX) Price Prediction 2028
If Hex (HEX) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then HEX would hit $8 by 2028.
Hex (HEX) Price Prediction 2029
If investors flock in and continue to place their bets on Hex (HEX), then the crypto would witness major spikes. Hence, HEX might hit $10 by 2029.
Hex (HEX) Price Prediction 2030
By 2030, the HEX price might rally to $13 if the trend momentum aligns in favor of Hex. Furthermore, HEX would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
Conclusion
If Hex (HEX) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Hex (HEX) price prediction for 2023 is $0.2302. Comparatively, the bearish Hex (HEX) price prediction for 2023 is $0.02557.
If there is a positive elevation in the market momentum and investors’ sentiment, then Hex (HEX) might hit $0.3. Furthermore, with future upgrades and advancements in the Hex ecosystem, HEX might surpass its current all-time high (ATH) of $0.5561 and mark its new ATH.
FAQ
1. What is Hex (HEX)?
HEX is an ERC20 token that was launched in 2019. It is native to the HEX network that runs on a Proof-of-Wait (PoWa) consensus algorithm.
2. Where can you buy Hex (HEX)?
Traders can trade Hex (HEX) on the following cryptocurrency exchanges such as Uniswap, BKEX, Bitget, MEXC and HitBTC.
3. Will Hex (HEX) record a new ATH soon?
With the ongoing developments and upgrades within the Hex platform, Hex (HEX) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Hex (HEX)?
Hex (HEX) hit its current all-time high (ATH) of $0.5561 on November 16, 2021.
5. What is the lowest price of Hex (HEX)?
According to CoinMarketCap, HEX hit its all-time low (ATL) of $0.00001451 on December 22, 2019.
6. Will Hex (HEX) hit $0.3?
If Hex (HEX) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.3 soon.
7. What will be the Hex (HEX) price by 2024?
Hex (HEX) price might reach $2 by 2024.
8. What will be the Hex (HEX) price by 2025?
Hex (HEX) price might reach $4 by 2025.
9. What will be the Hex (HEX) price by 2026?
Hex (HEX) price might reach $6 by 2026.
10. What will be the Hex (HEX) price by 2027?
Hex (HEX) price might reach $8 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
