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Huobi Token price analysis: HT/USD bull run set to continue

In this post:

TL; DR Breakdown

  • Yesterday’s Huobi Token price analysis chart was trading in bullish momentum.
  • Most parts of the cryptocurrency heatmap are green; this shows cryptocurrency trades in a bullish trend.
  • The Relative Strength Index is in the neutral zone; however, it shows the potential of moving towards the overbought region.

Huobi Token price analysis: General price overview

Yesterday’s Huobi Token price analysis chart was trading in bullish momentum. In the last hour on the daily price analysis chart, HT/USD traded in almost a straight line trend. At this time, the buyers and sellers had used their strengths during the lengthy trading day, and now none of them was able to alter the price leading to a moderate trading session.

The daily Huobi Token price analysis chart picked off when the market was experiencing bull pressure. The positive pressure pushed HT/USD price upwards in a flag trend before facing solid resistance at $15.03. The angry sellers turned around the bullish momentum. The price dropped, forming several inverted triangles to intraday lows of $14.45.

The bulls got support at the intraday low, and the bulls were set again for an upsurge. In today’s price analysis chart, the HT/USD pair trades in bullish momentum. Indicators like the MACD and the RSI show a positive market trend. Most of the candlesticks are green, suggesting that the bulls have taken control in most of the trading sessions in the daily Huobi Token price analysis chart.

Most parts of the cryptocurrency heatmap are green; this shows cryptocurrency trades in a bullish trend.

Source: Tradingview

The all-time largest virtual currency trades at a bullish trend with more than a 3 percent gain in the last few hours. In the early trading hours, most digital assets BTC traded in a bearish trend, including Bitcoin, which had gone down to slightly below $47K. The closes Bitcoin competitor trades in a similar trend with the giant asset.

FTT has recorded the most gains, with a 30 percent increment to data from Coin360.although most virtual assets have recorded gains, other have also recorded some deviations, UBT tops the list of loser recording a loss of more than 15 percent on the daily cryptocurrency heat map.

Huobi Token price movement in the last 24 hours: HT/USD trades in a bullish trend

The price of Huobi Token on our 24-hour Huobi Token price analysis shows moderate volatility between the daily range of $14.5 – $15.3. Most technical indicators indicate the market is experiencing strong bull pressure. The Balance of Power (BOP) indicator is above 0.5, meaning buyers are more potent than sellers, hence the bull pressure.

HT/USD 4-hour chart: Huobi Token price rallies

On the 4-hour price analysis chart, the HT/USD pair exhibited two trading patterns: head and shoulder and cup and handle. This type of pattern is usually associated with a bull market.

Source: Tradingview

The Relative Strength Index is in the neutral zone; however, it shows the potential of moving towards the overbought region. If the RSI moves past 70, the bullish trend is not likely to be overturned soon.

Huobi Token price analysis: Conclusion

If the bulls maintain their control of the HT/USD market, the coin may rally to ATH before the week comes to an end. However, bear invasion poses the main danger. The buyers are very potent with solid support; hence there are minimal chances of the sellers invading the HT market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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