- The HT crypto price has declined by 54.11% this month.
- Huobi Token’s price is trading far below the significant moving average, showcasing a bearish trend.
Huobi Token (HT) has witnessed intense selling pressure for the past few weeks. It recorded an all-time low of $0.968 on February 20th, 2024. This token’s price has been consolidating for a week, and buyers are trying to defend the $1 mark.
In a broader time frame, the HT crypto price has been in a bearish trend and declining by forming lower lows and lower highs. The HT price surpassed the 200-day moving average and tried to sustain in the last week of January, but sellers were strong and dragged it back to the EMA. The price made another effort to sustain the $3 mark but failed to do so and witnessed a sharp fall of 54% in just three weeks.
The RSI is at 31, indicating strong selling pressure. However, it is currently generating a bullish crossover between RSI and RSI-based MA. Since the beginning of February, the volume has made big bars.
The circulating supply of Huobi Tokens is 162,233,844 HT, and the fully diluted market cap is $648.05 million. The total supply is 203,980,445 HT, and the maximum supply is 500,000,000 HT.
Technical Analysis of the HT Price on the Daily Timeframe
The current market price of HT crypto is $1.32, up by 1.38% in the last 24 hours. The market capitalization of Huobi Token is $212.03 million, and the 24-hour trading volume is $9.10 million.
After a sharp fall, the HT price has been consolidating for a week. If the sellers dominate and the HT price melts to the $1 mark, the bearish trend may continue and decline by forming new all-time lows.
On the other hand, if the buyers manage to lift the HT crypto price to the $1.50 mark and sustain it, it may easily approach the $2.00 in the next few days. The HT price will remain bearish till the $2 level because the technical chart hints that the price is declining by forming lower lows and lower highs. It may form a lower high near the $2 mark, and selling pressure can be initiated.
HT Crypto Price Prediction FAQs
What is the HT price prediction today?
The Huobi Token price is predicted to lose 1.42% to reach $1.25 by today.
What is the HT price prediction tomorrow?
The analysis suggests that the HT crypto price can drop 4.05% to reach $1.19 by tomorrow.
What is the current HT price sentiment?
According to the technical analysis, the current Huobi Token price prediction sentiment is bearish.
What is the HT price forecast for this week?
Based on our analysis, the Huobi Token price is predicted to remain bearish for this week. It may range between $0.983 and $1.419.
Conclusion
Huobi Token price has been in a strong bearish trend and near an all-time low. According to the analysts, the HT price may remain bearish below the $2 mark, and a bullish signal may be generated over the significant moving averages. The RSI is near the oversold zone, and a positive spike has been detected in the volume this month.
Technical Levels
Resistance: $2.18 & $3.00
Support: $1.18 & $0.975
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.