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HT Price Analysis: The coin witness bullish breakout

Cryptocurrency

The Huobi Global Ecological Token- Huobi Token (HT) ranks 15 on the Coinmarketcap. The price of HT at the time of writing was $3.9660 and the market cap was about $957 million. BiKi traded a major chunk of Huobi Tokens i.e. about $48 million of these tokens via HT / USDT pair.

1 Hour Chart

Source: HT / Tether USD  TradingView

The one hour chart exhibited an uptrend extending from $3.8488 to $3.8800 and a downtrend from $3.9762 to $3.9130. The immediate resistance stood at $3.9085 and the subsequent resistance at $3.9263 while the immediate support was held at $3.8920 and the subsequent support at $3.8731.

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

Awesome Oscillator: It is seen that there is no strong momentum in neither of the bars but since the last bar was green, it hints that the coin was slowly entering the bullish sentiment.

Relative Strength Index: The RSI line was hitting the 60-line indicating that the buyers are getting stronger in pushing the coin to the bullish market.

1 Day Chart

Source: HT / Tether USD TradingView

The one day chart exhibited a downtrend extending from $5.3305 to $4.0259 and an uptrend extending from $3.1561 to $3.8648. The resistance was at $4.2111 and the support was held at $3.6957.

The Bollinger Bands had just begun to diverge increasing the volatility of the coins.

The MACD was swaying over the signal line indicating that the coin was under a bullish trend.

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

Conclusion

All the indicators in the long term chart and the RSI and Awesome Oscillator in the short term chart confirmed the presence of the token in the bullish market.

 

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