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HT Price Analysis: The breakout is getting closer

Cryptocurrency


The Huobi Global Ecological Token- Huobi Token (HT) ranks 16 on the Coinmarketcap. The price of HT at the time of writing was $3.8114 and the market cap was about $922 million. BiKi traded a major chunk of Huobi Tokens i.e. about $48 million of these tokens via HT / USDT pair.

2 Hour Chart

Source: HT / USDT TradingView

The two-hour chart exhibited an uptrend extending from $3.3897 to $3.7398 and a downtrend from $4.0440 to $3.9312. The immediate resistance stood at $3.9213 and the subsequent resistance at $3.9704 while the immediate support was held at $3.8396 and the subsequent support at $3.7921.

Parabolic SAR: The dotted line was coming down indicating the presence of the coin in the bearish market.

Awesome Oscillator: The green bars were slowly trying to gain momentum hinting that the coin was slowly entering the bullish sentiment.

Relative Strength Index: The RSI line was was under the 50-line indicating that the sellers are getting stronger in pushing the coin to the bearish market.

1 Day Chart

Source: HT / USDT TradingView

The one day chart exhibited a downtrend extending from $5.3295 to $4.0941 and an uptrend extending from $2.8235 to $3.6869. The resistance was at $4.0941 and the support was held at $3.6378.

The Bollinger Bands had just begun to converge decreasing the volatility of the coins.

The MACD line after a trend reversal had just gone under the signal line indicating a bearish trend.

Chaikin Money Flow: The CMF line had crossed over the zero line placing the coin in the bullish market as the buying pressure had increased.

Conclusion

The indicators suggested that the coin was under a bearish influence but few indicators suggest that the coin might experience a positive breakout in the near future.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.