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HOPR started the week with a big rise. As prices continue to rise in the crypto market, what are the significant support and resistance levels for HOPR? Where can the price find buyers? Here are the details!
What is HOPR?
HOPR is a decentralized, privacy-focused blockchain messaging protocol that allows users to exchange information online privately. With HOPR, users cannot learn which data is shared, how much data is sent, or who sends and receives this data.
The HOPR token is the native cryptocurrency of the HOPR platform. It has many functions such as being used as a payment tool within the platform, stake mechanism.
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Started The Week With A Big Rise!
HOPR started the week with about a 95% rise according to MEXC exchange data.
The price managed to rise to the level of $0.22197, reaching its highest level since February 2022.
According to CoinMarketCap data, the price needs to rise about 4 times to reach the all-time high (ATH) level of $0.9717.
HOPR, which has been moving sideways and with low volume for a long time in the bear period, could indicate that it is preparing for or has started a bull run with this rise after breaking its market structure upwards.
What Are the Crucial Levels?
The price changed the market structure upward by breaking the old peak level of $0.13132 with volume. The liquidity cleaning in the inner correction before the break supports the rise.
The level of $0.22187, where it spiked with the last rise, was an important resistance region where the price would receive a reaction, and it appears to have received a reaction from this region. It is worth reminding that trading from these levels is quite risky.
In possible pullbacks, the first region where the price can find buyers is the $0.13 level, followed by the $0.95 level. As long as the rise in price and the crypto market does not break, it can initially aim for $0.35 levels, then $0.5 levels. The $0.5 level is a region where we might receive a strong reaction.
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