The Huboi Token Price Hits Rock Bottom; Can It Bounce Back?

The Huboi Token has struggled to sustain at the current level and register a positive development after a free fall in the last two weeks. The HT crypto depreciated from its recent swing high after suffering rejection near the recent swing high.

As observed on the weekly chart, the HT token underperformed the crypto market and crashed to hit a new swing low. At the same time, the overall crypto market was headed higher in the period. Bitcoin, Ethereum, and other cryptos inched higher and hit new swing highs. 

However, the selling pressure has eased for the last couple of sessions, indicating the early signs of recovery. The HT token has held near the $1.25 level for the last couple of sessions. 

Despite the sellers having eased the grip over the trend, the buyers still do not seem interested in pushing the price higher as the price hovers back and forth near the lows instead of showing a pullback. 

Now that a selling wave has dragged the price to a new low, the crypto may head for a pullback to form a new lower high, and the sellers may drive the price lower again. Also, if the buyers fail to hold at the current level, it may again slide to a lower level of $1.2 and $1.1. 

Huboi Token Volume Analysis. 

The Volume analysis shows that the HT cryptocurrency received a total volume of $9.185 Million in the past 24 hours, with a drop of 27% compared to the previous day. The live market capitalization of the crypto is 210.17 Million and ranks 248th in the overall crypto market. 

The volume-to-market capitalization ratio is 4.42%, indicating low volatility in the market. 

Huboi Token Price Prediction for February 2024

The HT Crypto is headed downwards in the short term. It may drop to lower levels if it prevails under the selling pressure. If the crypto breaks lower, more downside moves may be observed on the charts. 

The bearish view of the analysts hopes for the price to drop to a low of $1.01 by the month’s end. However, if the recovery begins and the price starts rising, it may increase to a high of $1.73, as per the bullish view of our analysts. 

Huboi Token Price Prediction for 2024

The price prediction for 2024 shows that the Huboi Token may advance to a high of $2.29 by the end of 2024. The less optimistic analysts estimate a price target of $1.78 by the end of the year.

Huboi Token Price Prediction for 2025

Per our analysts’ positive view, the price may hit the $3.489 mark, suggesting an upside potential of 177.8% by 2025. The pessimistic view is that the price could reach $2.38 by the end of the financial year 2025.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.