Huobi Price Analysis: Bulls Poised to Break $8 Mark

Huobi token (HT) has maintained its winning streak,

reaching an intraday high of $7.80. The coin now trades above the majority of its moving average (MA) indicators.

Huobi token (HT) has maintained its winning streak, reaching an intraday high of $7.80. The coin now trades above the majority of its moving average (MA) indicators.

Huobi Token (HT) price has outperformed in recent days.  After reversing from its yearly low, the HT Crypto price rebounded more than 107% of its value in October.  Huobi token price is trading above major moving averages like 20, 50, 100, and 200 on the daily price chart.

Huobi Token Price (HT) has returned to its October closing price after an extended period of decline. HT The crypto price is looking very bullish these days, as investors continue to pump money into the market to buy the downtrend. The market is now bullish as the market leader, bitcoin, rebounds above the $19,000 support level.

The $8.20 level, which previously served as triple bottom support, is currently continuing to pose significant resistance to the Huobi price. A Bullish pennant on the HT/USDT indicates more spark in the coin.

At the time of writing, the Huobi token price against the USDT pair is $7.75. Although the price looks bullish in the intraday trading session, it is currently trading at flat. Buyers would be active during the final retracement phase in the last seven days, despite the consolidation seen in coins after a sudden spike.

According to CoinGabbar Price Analysis, The market capitalization of this HT is estimated to be $1,194,933,122. The 24-hour trading volume for the coin is around $30,809,009. HT market capitalization has fallen by 0.37%. However, trade volume decreased by 15.63% during intraday trading.

On the upside, $8.20 represents immediate resistance. The next significant level of resistance is seen at $8.50. A break over $8.50 might launch a new upward trend. In the aforementioned case, the price may reach $9.00. Any further rises might send the price beyond the $10.00 level.

If the HT price does not break past the $8.20 barrier, it may begin to fall. On the downside, the initial support level is $7.50. The next key level of support is $7.00. A break below $7.00 might result in a significant negative correction. In the aforementioned scenario, the Huobi Token price might fall below $6.00.

KEY LEVELS :

RESISTANCE LEVEL : $8.20-$9.00

SUPPORT LEVEL : $7.50-$7.00

The bulls take a breath and ready to fire after more than a 100% return. Will the bulls be able to drive HT to $10 in the near future? Have you noticed the graph's pattern?