- The HNT coin’s daily RSI line has reached the overbought zone
- The HNT/BTC pair was trading at 0.000771 BTC with a gain of 31.95%
- The 24-hour trading volume in HNT is $238.6 Million, indicating a 165.5% hike
On October 29th, the HNT coin indicated an excellent opportunity for crypto traders when its price broke out from a rounding bottom pattern with its neckline at $26.5. Furthermore, the coin price retraced back to retest this level and then displayed a remarkable rally in its chart.
By the press time, the coin has indicated a 77% growth in the last five days and has marked $59.2 as the new All-Time High for the HNT coin.
Concerning the EMAs; The HNT coin’s price is trading high above the EMAs 20, 50, 100, and 200, indicating a bullish trend in its chart.
The RSI value (BULLISH) is 90, indicating a bullish sentiment about this coin as the RSI line has shown impressive growth, supporting the ongoing rally. However, it also suggests the coin has reached an overbought level.
HNT Coin Chart In The 4hr Time Frame
After reaching the $59.2 mark, The HNT coin rally experienced an intense supply pressure from this level, displayed by some long wick candles in its chart. The coin price is currently moving lower, indicating the beginning of a retracement phase. The HNT coin’s price is trading at $48.7, with an intraday gain of 30%.
As per the traditional pivot levels, the nearest resistance for the HNT coin price is $51.5, followed by $57.8. And for the opposite side, the nearest support the crypto traders can expect is $45, followed by $38.6.
Conclusion: From a technical perspective, the overall trend for the HNT coin is strongly bullish. However, as mentioned above, the coin price faced strong rejection from the $59.2 mark and could initiate a minor retracement. Thus, the coin trader can mark the important support level in their chart, which can help the price to rally again.
Support – $45
Resistance – $51.52