Humanity Protocol up 80% from April lows: Can bulls keep H rising?

Humanity Protocol [H] has rallied 53% over the past month and was up 2.7% in the past 24 hours. Its bullish performance in April saw the altcoin break into the top 100 crypto assets by market capitalization.

In a post on X, Santiment pointed out that the Humanity Protocol whale transactions hit a 5-month high recently. At the same time, the network growth made a two-month high.

Source: Santiment on X

Whale transactions need not always reflect whale buying. While high network growth signaled new retail entrants and increased demand, there was reason to be cautious.

Volume trends might be flashing a warning sign. The daily trading volume was down 46%, according to CoinMarketCap data. This might be due to the weekend, but it helped explain the short-term momentum shift.

The long-term H structure remains bullish

Source: H/$USDT on TradingView

While short-term momentum and high whale activity could spook some holders, the higher timeframe price structure remained bullish. On the weekly chart, the swing structure continued to favor the buyers .

H has made higher lows since September, keeping the trend going. In February, despite the market sell-off, H managed to shift its weekly internal structure bullishly (green) with a move beyond $0.219.

A drop below $0.0773 will shift this structure in favor of the sellers. Meanwhile, a rally beyond the $0.252 high will signal a trend continuation.

What are the next targets?

Source: H/$USDT on TradingView

The altcoin’s performance in April has been solidly bullish. The CMF was above +0.05 to signal capital inflows. On the other hand, the MFI made a lower high while the price made a higher high.

This, combined with the falling volume, added to the idea that Humanity Protocol token prices might see a retracement.

In case of a pullback, the $0.110-$0.119 area would likely see a bullish reaction. A drop below $0.098 would represent a bearish market structure shift.

The current bullish structure meant that, retracement or otherwise, the next targets were the $0.18 and $0.23 local highs.

Final Summary

• Humanity Protocol exhibited strong bullish momentum on the price charts. It was accompanied by high whale activity and two-month highs in network growth.
• A bearish momentum divergence and falling trading volumes could lead to a pullback toward $0.110.

Source