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Price Analysis of HT: The token continues to float in the market

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The Huobi Global Ecological Token- Huobi Token (HT) ranks 15 on the Coinmarketcap. The price of HT at the time of writing was $3.8992 and the market cap was about $943 million. BiKi traded a major chunk of Huobi Tokens i.e. about $45 million of these tokens.

Hourly Analysis of Houbi Token
Source: HT / Tether USD TradingView

The hourly showed an uptrend extending from $3.6524 to $3.8938 and a downtrend extending from $3.9771 to $3.9312. The support was at $3.8590 and an immediate resistance was at $3.9346 and a subsequent resistance was seen at $3.9593.

The Parabolic SAR showed that the dotted line was coming down indicating that the coin is facing a bearish sentiment.

The MACD line was just hitting the signal line keeping us guessing if it going to experience a trend reversal.

The Awesome Oscillator showed that the coin with very negligible momentum was entering the bearish market.

1 Day Chart

Source: HT / Tether USD TradingView

The daily chart showed an uptrend extending from $2.4750 to $3.7907 and a downtrend extending from $5.2944 to $3.9669. The immediate was held support at $3.6925 and subsequent supports at $3.3642 and $3.0775 while the immediate resistance was at $4.1929 and subsequent resistance at $4.3805.

The Bollinger Bands seemed to have begun to diverge making the coins more volatile.

Chaikin Money Flow: The CMF line was slightly above the zero line indicating that there was a minor increase in the inflow of the capital pushing the coin into the bullish market.

Relative Strength Index: The line was way above the 50 line indicating that the increase in the buying pressure pushing the coin into the bull market.

Conclusion

The short term chart indicates that the coin was in the bearish market while the long term chart indicates that the coin was in the bullish market.

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