HT is a native currency of Huobi Crypto Exchange, it was launched to offer discounts to customers. The token can be used to purchase monthly VIP status plans and get a discount on the fee. VIP status holders have a voting right on exchange decisions and get seasonal cashback in the form of cryptocurrencies. The following HT technical analysis will predict the price trends for the next two days:
On May 25, 2021, HT opened at $16.44. On May 31, 2021, HT closed at $15.40. Thus, in the past week, the HT price has decreased by approximately 6.32%. In the last 24 hours, HT has traded between $14.22-$15.60.
Day Ahead And Tomorrow
Currently, HT is trading at $15.34. The price has increased from the day’s opening price of $14.37. Thus, the market seems bullish.
The MACD and signal lines have entered the negative zone. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, the HT price may decline further.
Currently, the RSI indicator is at 37.2%. It faced rejection at 36% and came back to this level. Thus, buying pressures are slowly mounting. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal.
When we look at both the oscillators, we can say that the HT price may continue to fall. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.
HT Technical Analysis
Currently, the price is below the second Fibonacci pivot point of $17.32. The $17.33 level is a great resistance level. If the bulls remain strong till day end, then the price is likely to rise above and highlight the first, second, and third resistance levels of $21.71, $25.20, and $28.68, respectively.
In previous trading sessions, the price has tested and fallen below the 23.6% FIB retracement level of $17.13. It may soon retest the 23.6% FIB retracement level of $17.13. Thereafter, we have to wait and watch if the price breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well.