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On a daily chart, Bitcoin can be seen moving within a channel pattern, frequently retesting the $58,000 support level.

Bitcoin's price has continued its decline, falling below $57,000 for the first time since October, as the digital currency continues its retreat from record highs. Meanwhile, HUH Token's pre-launch token allocation has almost sold out.

Bitcoin


The largest and most popular cryptocurrency in the world, Bitcoin, was trading over 6% lower at $56,328.8 on Friday. Bitcoin recently reached a record high of around $69,000 and is currently up over 93% year to date (YTD).

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According to market tracker CoinGecko, the global cryptocurrency market cap has decreased to $2.6 trillion. Bitcoin more than doubled its value this year, while Ether has nearly quadrupled. Both set new highs last week, owing to a fervour for digital assets fueled by speculative demand and contentious claims that they can be used to hedge inflation risks.

On a daily chart, Bitcoin can be seen moving within a channel pattern, frequently retesting the $58,000 support level. The RSI indicator has dropped below 40, indicating that the token is approaching oversold territory.

Ethereum

Ethereum, the second-largest cryptocurrency, also fell more than 4% to $4,075. Ethereum's price has been hovering near an all-time high, catching up with bitcoin's rally and benefiting from news of increased blockchain adoption.

Solana

The price of Solana is approaching a critical support level, which will likely dictate its near-term outlook. The "Ethereum-killer" maintains a bullish outlook, with its next optimistic target of $325, but if the critical foothold is lost, the token faces a 34% decline.

HUH Token HUH Token is also introducing a referral scheme.

On the 12-hour chart, Solana's price has formed an ascending parallel channel as SOL continues to print higher highs and lower lows. After falling 25% from its all-time high, the Ethereum-killer is now approaching a critical support level at the lower boundary of the prevailing chart pattern, which is currently trading at $189.

If the Solana price manages to hold above this level, a recovery for the token may be imminent.

Also Read: Status of Bitcoin in India

Meanwhile, dogecoin's price fell over 5% to $0.22, while Shiba Inu's price fell 10% to $0.000043. Other cryptocurrencies such as XRP, Litecoin, Polkadot, Uniswap, Stellar and Cardano have also seen price declines over the last 24 hours.

HUH Token

HUH Token has announced that it will be locking in $1 million worth of liquidity when it launches on 6 December on popular exchanges PancakeSwap and Uniswap, with $500,000 of liquidity being locked in on each exchange for two years.

HUH Token will also have a capped number of tokens, meaning the number of tokens in circulation will never increase. The creators say the 1% of HUH Tokens that have been allocated for pre-sale have almost completely sold out, with thousands of holders already investing.

To further enhance investor sentiment, HUH Token is also introducing a referral scheme. Holders that refer others with a unique code will receive 10% of that new investor's initial investment in Binance (BNB). Furthermore, this code can be used indefinitely, meaning holders can keep generating BNB with each new referral.

Dogecoin has already demonstrated how buying in early can reap huge rewards and HUH Token looks set to try and replicate those astonishing gains.

Follow HUH Token on their Socials before they Launch:
Presale: https://huh.social/presale/
Telegram: https://t.me/HUHTOKEN
Website: https://huh.social
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/

Disclaimer: (This article is sponsored ad includes some commercial links)


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