Huobi Token Price Analysis: Will HT Surge to hit $4.88


  • Huobi Token currently trades near $4.02
  • HT fall -8.85% in seven days.
  • 24-hour trading volume for Huobi Token is hovering at $14,185,755.00.
  • Huobi Token’s EMA(10) shows a downward trend.

03 October 2022 : In this article we will walk you through Huobi Token price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Huobi Token, Is HT a good investment? Huobi Token support & resistance levels etc. But before diving deep into the HT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,932,453,244. The total trading volume stands at $55,487,317,888. Bitcoin shares 39.83 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,585.87 level after an upward movement of 2.11%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.39 percent reaching to $1,325.49 during the previous 24 hours.
While publishing this blog, BNB traded at $288.43, following a price change of 1.88% within the same time frame. XRP the native coin of XRP is down by -0.31 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.57% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Huobi Token Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Huobi Token (HT)

HT Resistance Levels HT Support Levels
Resistance Level 1 $4.88 Support Level 1 $3.87
Resistance Level 2 $5.34 Support Level 2 $3.32
Resistance Level 3 $5.89 Support Level 3 $2.85

Huobi Token Performance

The current Huobi Token price is $4.02, with a trading volume of $14,185,755.00 in the past 24-hours. Currently, HT is up by 1.22% since yesterday with a market capitalization of $615,821,725.00 USD.

Huobi Token Price Analysis

HT price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Huobi Token.

Moving Averages Price Indicator
Simple Moving Average (10) 4.42 Sell
Exponential Moving Average (10) 4.42 Sell
Simple Moving Average (20) 4.49 Sell
Exponential Moving Average (20) 4.48 Sell
Simple Moving Average (50) 4.68 Sell
Exponential Moving Average (50) 4.66 Sell

While HT’s Williams %R indicator is at -41.502 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing above of the signal line after a positive crossover. Huobi Token investors need to wait for any directional change over the daily chart. The relative Strength Index (RSI) indicates that the HT coin is near oversold zone, as RSI is at 37. The first support level for Huobi Token is at $3.87 while the second one is at $3.32. While taking about resistance the HT has R1 and R2 at $4.88, $5.34 respectively.

Conclusions

From the technical analysis, the overall trend of the Huobi Token is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if HT manages to stay above $3.87, it can provide an excellent long opportunity for HT communnity.