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📅 July 3, 7:00 – July 9,
Humanity Protocol (H) Rallies as Whales Join the Surge
Key Notes
The Humanity Protocol (H) token gained over 90%, rising from a daily low of $0.04259 to a high of $0.08235. Trading volume increased by 257.54%, drawing attention across the digital asset space, while the total market cap saw a 0.6% uptick.
At the time of writing, the H token still trades about 50% below its all-time high of $0.1575 set just over a week ago.
Whale activity triggers price speculation
According to blockchain analytics firm Lookonchain, a notable wallet (0x859e) deposited 35 million H tokens (worth approximately $2.7 million) to exchanges just 12 hours before the latest rally.
The transaction has sparked debate on whether the move was intended for profit-taking or market manipulation.
Complicating the situation further is the involvement of Jump Trading, a strategic investor and market maker for Humanity Protocol. On launch day, Jump received 25 million H tokens, and subsequently deposited 8 million to exchanges.
Technical analysis: rsi, macd, and fibonacci insights
The H token hourly chart reveals that the RSI peaked above 76 before pulling back to around 58, signaling that the token entered overbought territory but is gradually beginning to cool off.
The MACD shows a narrowing gap between the MACD and signal line, hinting at slowing bullish momentum. However, with the histogram still in positive territory, the trend has not fully flipped bearish yet.
Fibonacci retracement levels (from the $0.0424 low to the $0.0988 local high) unveil that 0.382 Fib level at $0.0772 is currently acting as a strong intraday support.
If bulls hold this zone, a potential retest of $0.0855 (0.236 Fib) and ultimately $0.0988 is possible. On the downside, failure to hold $0.0772 could drag price to the 0.5 ($0.0706) and 0.618 ($0.0639) levels.
If momentum returns and volume sustains, price could attempt a breakout above $0.09 and revisit the psychological $0.10 barrier. If bulls hold this zone, a potential retest of $0.0855 (0.236 Fib) and ultimately $0.0988 is possible.
On the downside, failure to hold $0.0772 could drag prices to the 0.5 ($0.0706) and 0.618 ($0.0639) levels, key areas where buyers may look to re-enter.
Humanity protocol’s vision and risks
As outlined by Delphi Digital, H is developing a modular identity platform that allows users to prove who they are without revealing private data.
The platform enables biometric authentication via palm scanning, with optional vein detection, offering a more privacy-focused alternative to iris or facial recognition.
Users can prove credentials, such as education, bank status, or work experience, through encrypted and decentralized zkProofs without revealing personal details.
Related article: Humanity Protocol Secures $20M Funding, Hits $1.1B ValuationHowever, Delphi also outlined some red flags, a major one being the absence of transparency regarding the vesting schedule for early investors who hold 29% of supply, raising dilution concerns.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.