On Nov. 18, Hello Pal Worldwide, Inc (OTC:HLLPF) announced it had bought 130 extra Antminer L7 mining rigs for the mining of Litecoin (CRYPTO: LTC) and Dogecoin (CRYPTO: DOGE).
When the machines are delivered in December, the Vancouver-based firm will boast a complete of 400 L7s mining rigs.
Hello Pal is a social media app that focuses on social interplay, language studying and journey the place customers can talk in actual time with different customers from everywhere in the world by chat or livestream video and by interacting with photos customers are in a position to add to the app.
The platform additionally features a cryptocurrency pockets and, sooner or later, is ready to supply a crypto mining service the place customers can personal or part-own their very own particular miner, housed by Hello Pal, to start mining Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Litecoin and Dogecoin.
Since Nov. 16, when Hello Pal reached a excessive of 70 cents, the inventory has fallen 25% in sympathy with a droop within the normal cryptocurrency markets. On Wednesday, Hello Pal was printing a reversal sign that the underside could also be in.
See Additionally: What’s Going On With Dogecoin Today And Is A Price-Trend Reversal In Store?
The Hello Pal Chart: Since Nov. 16, Hello Pal has been buying and selling in a confirmed downtrend, with the newest decrease excessive printed on Monday on the 67-cent stage and the newest decrease low fashioned on Wednesday at 55 cents. If the downtrend continues, merchants can anticipate one other consecutive decrease excessive to be printed over the approaching days.
On Wednesday, Hello Pal was working to print a long-legged doji candlestick sample, which signifies a reversal to the upside is probably going within the playing cards, though larger costs shall be wanted on Friday for affirmation. Merchants will then need to look ahead to whether or not the doji is simply a sign of a bounce right into a decrease excessive or if a development change to the upside is within the works.
Common every day quantity has been reducing since Monday, which additionally signifies a potential impending bounce or development change as a result of the inventory is working out of sellers. By Wednesday midafternoon, solely about 207,395 shares had exchanged arms in comparison with the 10-day common of 722,570 shares.
Hello Pal is buying and selling above the 21-day exponential shifting common (EMA) however under the eight-day EMA, with the eight-day EMA trending above the 21-day, which signifies indecision. The inventory is buying and selling above the 50-day easy shifting common, which signifies longer-term sentiment is bullish.
- Bulls need to see massive bullish quantity are available in and push Hello Pal up above the eight-day EMA, which might keep away from the eight-day cross under the 21-day. There may be resistance above at 62 cents and the 70-cent stage.
- Bears need to see massive bearish quantity are available in and drop Hello Pal down under Wednesday’s low-of-day, which might affirm the downtrend continues to be intact. There may be help under on the 54-cent stage and at 47 cents.
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