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HT Price Analysis: The coin finally bids goodbye to the bears

Cryptocurrency

The Huobi Global Ecological Token- Huobi Token (HT) ranks 16 on the Coinmarketcap among the major cryptocurrencies. The price of HT at the time of writing was $3.8446 with a market cap was about $920 million and a 24-hour trading volume of $72.045 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 $3.9238 and the subsequent resistance at $3.9842 while the immediate support was held at $3.8405 and the subsequent support at $3.7539.

Parabolic SAR: The dotted line was just starting to rise indicating the presence of the coin in the bullish 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 way over the 50-line indicating that the sellers are getting stronger in pushing the coin to the bullish market.

1 Day Chart

Source: HT / USDT TradingView

The one day chart exhibited a downtrend extending from $5.3234 to $4.0112 and an uptrend extending from $2.9532 to $3.1259. The resistance was at $4.0974 and the support was held at $3.6434.

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 CMF indicator in the long term chart and all the indicators in the short term suggest that the coins were under a bullish trend.

 

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