- HNT token price breaks above the crucial resistance level of $40.
- The 24-hour volume of the coin is $161M, with a fall of 60%.
- The HNT/BTC pair trades at 0.0006457 BTC with an intraday fall of 11.00%.
HNT Token price shows phenomenal growth in the daily chart. The coin price grows more than 100% in the past two weeks. As a result, the price action makes multiple bullish engulfing candlesticks.
The token price shows higher price rejection that is why the price retraces back to the $40 mark. However, pivot points indicate support levels at $37 and $33 mark. Moreover, on the flip side, the resistance levels are at $45 and $53.
The price is significantly higher than all the crucial EMAs – 20, 50, 100, and 200. Moreover, the EMAs maintain a bullish alignment in the daily chart. Hence, EMAs can provide support if the price crashes.
Is The Buying Opportunity For HNT Token Far Behind?
The HNT token price may struggle to sustain above the $40 horizontal level in the daily chart. However, the incredible breakout in the weekly chart indicates a bull run with the support of solid buying pressure.
The daily chart shows that the HNT token price is in a bullish trend. This is due to the fact that the price trades higher than the important EMAs 20,50100, 200. The EMAs will guard against any decrease in the token’s price.
As the slope rises above its centerline, the RSI indicator indicates underlying solid bullishness.
MACD indicators show the MACD indicator’s signal lines rising each day. The lines also maintain a bullish alignment. This is a buy signal.
Conclusion – The HNT Token Price Action is extremely bullish despite the high price rejection; moreover, the indicators project a possible uptrend if the price sustains above the $40 mark. Nevertheless, investors may like to wait till a bullish crossover is observed in the daily chart to avoid sudden reversals.
Support – $40, $35
Resistance – $45 , $50