HNT Technical Analysis: Does The Price Intend To Be Corrected?
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However, the HNT price was expected to rebound from $11.27 to at least $7.5. Such a local fall wave would test the strength of buyers and show the actual number of active sellers who believe in the continuation of the fall. While the HNT price is below $11.27, the correction scenario is relevant. To do this, sellers need another week or two to keep the mark, not allowing it to be fixed higher on the weekly timeframe. However, if buyers manage to break the $11.27 mark within the next 2 weeks, their limit purchase orders should be moved higher.
HNT Technical Analysis On The Daily Timeframe
Analyzing the movement of the HNT price on the daily timeframe, you can see the signal to aggressively enter the long position with a target of $17. Starting from 15 June, the HNT price is consolidating under the mark of $11.27. Stopping for 2 weeks on the spot, the HNT market is preparing for a strong impulse. In order not to miss this trading situation, you should be prepared for two scenarios.
The first scenario positive- is the breakdown of the consolidation triangle up. In this case, HNT should be bought in the range of $10.7. The main buyers' support during the local growth wave from 14 June is in the range of $10. If the price is fixed below this range - you should expect the HNT to fall to the range of $7.5-$8. It is in this range that you should buy this cryptocurrency for the same target of $17. An alternative scenario of continuing to fall and updating the local low from 12 May will take effect if buyers do not keep the $7 range. Then it is better not to keep HNT and wait for its next stop.
The HNTBTC Price Tends To Reach 0.00099
On the weekly chart of HNTBTC, we reflected a negative scenario of price movements, in which growth will be possible. We published this scenario in our previous article and it is still relevant. However, the weekly candle from 20 June says that sellers in the HNTBTC market in this price range are extremely small. Therefore, the continuation of price growth without correction with a target of 0.00099 is quite real. This confirms the positive forecast of HNTUSDT price movement, which we wrote about above. In order not to miss the trading situation, it is necessary to divide the amount of investment planned for HNT into two parts. Leave the part to work out the negative scenario. For the rest, buy HNT at about current prices. In this case, in any scenario, you will have a position that is likely to be profitable.