What will the future look like for XHV? Haven protocol shows signs of a bullish trend after a rollercoaster trip that plunged it from $20 to $1.60 in three months.
Haven Protocol, a fork of the Monero blockchain that promotes itself as an"offshore bank," appears to have rallied on similar sentiment.The recent bout of buying in the Haven Protocol market may have also emerged owing to a multi-month technical support level.XHV's price rebounded after failing to close below its descending channel support on multiple attempts, as shown in the chart below.
Notably, the token's last 90% drop towards the same price floor in 2021 led to a sharp upside retracement from around $2.50 in June to around $20 in November.XHV's price hints at undergoing a similar, extended upside recovery after its latest bounce. In doing so, the Haven Protocol token might retest the resistance trendline of its descending channel setup — around $10.
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