HNT price chart is displaying bullish momentum and is riding the gains amidst the crypto market pump. Furthermore, the buyers have executed a massive breakout above the crucial neckline of $3.00 and rebounded sharply in the recent sessions. Additionally, the HNT crypto price surpassed the 200-day EMA hurdle and witnessed a golden crossover.
HNT price is displaying a positive trend and has replicated outperformance in the past sessions. Moreover, the price action exhibits a follow-on buying, as the buyers consistently uplift HNT crypto price. Per the technicals, the HNT crypto price has surpassed neutrality and is approaching the bullish trajectory zone. The profit booking led to retesting of the 61.8% Fibonacci retracement zone and paused a massive comeback from the demand zone.
The live price of HNT crypto is $4.68, with an intraday drop of 9.67%, showing profit booking on the chart. Moreover, the trading volume increased by 2.23% to $7.96 Million. Analysts have maintained a bullish rating and suggest outperformance for the following sessions.
Will HNT Price Surpass Swing High of $6?
On the daily chart, the HNT price shows a massive breakout and has surpassed the major neckline of $3 in the last few sessions. Moreover, the price action displays an intense buyer accumulation and is showing their willingness to catch the round mark of $7, followed by $10 in the upcoming sessions. After a huge bullish candlestick, retracement was witnessed on the chart.
The RSI curve stayed in the overbought zone and showed a positive crossover, replicating the bullish momentum. The MACD indicator shows a bullish crossover and formed green bars on the histogram, suggesting that the outperformance may continue in the following sessions.
Weekly Charts Displays a Rebound From Demand Zone
On the weekly chart, the HNT price shows a reversal from the bottom zone of $1.20 and the formation of the triple bottom pattern. Furthermore, the price action shows a positive crossover, and that HNT crypto has surpassed the 50-day EMA, exhibiting bullish momentum on the chart. Per the Fibonacci retracement levels, HNT crypto has exceeded the 61.8% zone and is close to the 78.6% zone.
Summary
HNT price led to a massive rebound from the demand zone and exhibited a bullish momentum in the recent sessions. Moreover, the buyers are looking strong and aggressively surpassed the neckline of $3.00, replicating the breakout on the chart.
Technical Levels
Support Levels: $4.50 and $4.00
Resistance Levels: $5.00 and $6.00
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/12/13/hnt-price-prediction-will-hnt-continue-to-boost-gains-above-7/