Humanity Protocol price explodes 116%: Is H poised for another 2x surge?

Humanity Protocol: The only crypto ready to explode?

The crypto market is going through a period of uncertainty, but Humanity Protocol (H) stands out with impressive buying pressure. In April alone, the asset recorded a massive surge, climbing from $0.0826 to over $0.18. Its market capitalization followed this momentum, jumping from $332 million to nearly $499 million in just a few weeks.

Currently trading in a price zone between $0.176 and $0.18, the token is up 25% over the last 24 hours. This bullish push is driven by strong community enthusiasm and notable whale accumulation. Furthermore, Nansen data reveals an 8.27% drop in H reserves on exchanges, signaling that investors are withdrawing their tokens for long term holding.

Can Humanity Protocol trigger a new rally after this breakout?

The technical analysis of Humanity Protocol highlights a clear breakout from its accumulation triangle. The $0.14 level now acts as a crucial support to hold. However, if the price sustains above this mark, a return to $0.42 in the coming months is entirely possible. This would result in an additional potential upside of 120%.

If buyers manage to validate a clean breakout above $0.186 on the daily close, the path would be clear for a new bullish impulse. The next technical target sits at $0.23, which would represent an additional 23% increase. Momentum indicators confirm that traders are betting heavily on the continuation of this move.

However, the crypto market remains volatile and a bearish scenario cannot be ruled out. In case of failure against this sell wall, profit taking could accelerate. A rejection at $0.18 could trigger a correction of around 22%, bringing the price back to its lower supports to test the upper boundary of the triangle.

Nevertheless, a 1 week bullish order block appeared last December and H bounced perfectly into its liquidity zone on March 30. It also displays a 3 day order block at this level. This confirms the massive accumulation by smart money over the past few weeks.

How high can the Humanity Protocol price go?

The current setup for Humanity Protocol is a double edged sword. On one hand, massive accumulation off exchanges and optimism in derivatives markets advocate for an imminent breakout. On the other hand, the psychological and technical barrier of $0.18 will require substantial buying volume to be definitively shattered.

The coming days will be decisive in confirming whether this move is just a flash in the pan or the start of a true bull run for the H token. Investors will need to closely monitor the daily close: a candle above $0.186 would be the long awaited signal for the bulls to target new highs.

With a market cap close to $500 million, a 2x is well within the realm of possibility for the token to go and test that $1 billion market valuation again. 

As a reminder, Humanity Protocol is a decentralized identity protocol (Layer 2 Ethereum) based on Proof of Humanity via palm scanning developed by a Chinese team. It is a direct competitor to Worldcoin, which has been plunging for several months. Unlike Worldcoin, they prioritize privacy: the user retains full control of their identity (Human ID) and can reuse it everywhere (Web3 + traditional apps).

Since then, over 8 million Human IDs have been created. There is therefore a real use case and actual utilization of the protocol. This rotation from Worldcoin to the H token could well propel it to new heights if the $0.40 mark is broken with volume.

Sources:

• Santiment
• Tradingview
• AMBCrypto

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