This Social Media App Will Enable Dogecoin, Litecoin Mining: Can It Get Out Of Trouble?

Hello Pal International, Inc. (OTC:HLLPF) was trading up more than 5% on Tuesday, alongside Dogecoin (CRYPTO: DOGE) and Litecoin (CRYPTO:LTC), which were trading around 2% and 3% respectively in the early afternoon.

The downed stock suffered from a slowdown in general markets and the crypto market, which saw heavy downside volatility.

Hello Pal is a social media application that focuses on social interaction, language learning and travel where users can communicate in real time with other users around the world through live chat or video and interacting with the images that users can upload to the app. .

The platform also includes a cryptocurrency wallet and in the future is set to offer a crypto mining service where users can own or part-own their own specific miner, hosted by Hello. Pal, to begin mining. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Litecoin and Dogecoin.

Since Nov. 16, 2021, when Hello Pal hit a high of 70 cents, the stock has fallen more than 72% in sympathy with a slump in general cryptocurrency markets. On Wednesday, Hello Pal printed a reversal signal where the bottom could be.

See also: How to buy Dogecoin • The popular currency

The Hello Pal graphic: On Monday and Tuesday, Hello Pal tested a support level just above the 16 cent mark and held above it. This backtest of the zone, combined with similar price action on January 24-25, created a possible bullish quadruple bottom setup.

On Tuesday, Hello Pal was working to print a bullish Marubozu candlestick and inside bar, with all of Tuesday’s price action within Monday’s range. The inside bar pattern is neutral because Hello Pal has been trading in a horizontal pattern since January 10 and traders can watch for a break up or down from the inside bar on Wednesday to gauge future direction.

Hello Pal is experiencing high volume, indicating that a high level of investor interest may return to the stock. By mid-afternoon Tuesday, around 320,000 shares of Hello Pal had been traded for a 10-day average of 161,050.

Hello Pal is trading below the 8-day and 21-day exponential moving averages (EMA), with the 8-day EMA trending lower than the 21-day, both of which are bearish indicators. Hello Pal is currently rejecting the eight-day EMA as resistance, but if the stock can regain the zone as support, that would give the bull more confidence going forward.

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  • Bulls want to see big sustained bullish volume pushing Hello Pal up through the 8-day EMA and a resistance level at $0.215, which would be the first indication that the stock might start trading in a trend bullish. Above this level, there is additional resistance at the 29 cents and the 35 cents level.
  • The bears want to see big bearish volume coming in and breaking Hello Pal below the 52-week low of $0.153, which would put Hello Pal in a downtrend. The stock has support below that level at 12 cents, followed by the area just above the 8 cent mark.

See also: Dogecoin continues to drop – Why Meme Coin millionaire is not buying this drop

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