• Hex (HEX) is an ERC20 token that was launched in 2019 and utilizes Proof of Wait (PoWa) instead of Proof of Work (PoW).
• The current market status of HEX stands at $0.06855 with a 24-hour trading volume of $16,525,112 and a 24-hour price change of 5.29%.
• The bullish HEX price prediction for 2023 is $0.1028 – $0.2302 while the bearish prediction stands at $0.02557.
What Is Hex (HEX)?
Hex (HEX) is an ERC20 token that was launched in 2019. It is the blockchain-based alternative of 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 Market Status
The current market status of HEX stands at $0.06855 with a 24-hour trading volume of $16,525,112 and a 24-hour price change of 5.29%. Its all-time high was recorded on November 16 2021 when it hit the mark 0f $0.5561
Hex Price Prediction 2023
In this Hex Price prediction 2023, we will analyze the price patterns by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency:
• Descending Channel Pattern – In this pattern, two parallel trendlines form the upper trendline which joins highs and lower trendline which joins lows run parallelly downwards forming a bearish market situation with resistance levels at 0f9$.523 & 0$.12705 and support levels set up at 0$.05756 & 0$.06560 respectively if the trend continues or reverses respectively
Resistance & Support Levels
The chart given elucidates possible resistance & support levels for Hex in 2023:
• Resistance Level – If the pattern trends continue then Hex might reach resistance levels set up at 0f 9$.523 & 0$.12705 respectively
• Support Level – If trend reverses then it may fall to support level set up at 0$.05756 & 0$.06560 respectively
Based on our analysis and research regarding Hex Price Prediction 2023, we can conclude that there’s potential for growth with various factors influencing its performance including state regulations as well as user demand & supply dynamics controlling its pricing behavior in long term perspectives