- Houbi Token price advanced by +5.6% in the last month showing an uptrend in the Monthly time frame.
- Houbi Token price is currently trading at $2.73 with an advance of -0.5% which is down by -93.08% from the all-time high as per Coingecko.
Houbi Token price is currently declining from the higher levels and there are no signs of reversal in the token, also an advance of +169.25% in trading volume in the last 24 hours resulting in $505.10M ranking #27 on CoinMarketCap can be seen. The Market Cap dominance for ETH is 0.035% with a Volume / Market Cap ratio of 0.0733.
Huobi Token (HT) is the name of the native token for the Huobi cryptocurrency exchange, which is one of the world’s oldest and largest exchanges. A burning mechanism that destroys some tokens every quarter based on Huobi’s trading volume makes Huobi Token different from other exchange tokens, as it lowers the total supply of HT over time.
The long/short ratio for the HT price in the last 24 hours is 1.1858 leading to a total long liquidation of $682.66K against short liquidation of $0 in the last 24 hours as per Coinglass.
Houbi Token Price Technical Analysis
Market Structure:
HT price has been consecutively dropping from the higher levels and there has been no sign of reversal of trend. The market has been consecutively making lower low structure getting dominated by the sellers. In order to change the trend the HT crypto will have to cross the level of 5.7000 as there lies a swing high with good volume.
Houbi Token Price Indicator Analysis
Source: HTUSD.COINBASE.4H by TradingView
EMA:
The Huobi Token price is trading in a bearish EMA crossover resulting in a consecutive decline in price currently the market is trading at all-time low levels and the EMA’s also have very good space between them which represents the strength of the downtrend.
RSI:
As per the HT price, the RSI looks weak as it has broken down below the 30 zone, and is currently trading below the 50-level which indicates the presence of sellers in the market. If RSI rises above the level of 65 and then continues the momentum then a good up move can be seen but till then the HT looks untradeable.
Conclusion
Looking at the current charts we can do the Houbi Token price prediction by observing that the HT crypto is currently trading below the 20-day and the 50-day Exponential Moving Average and the RSI also looks exhausted and there are no signs of change in structure. Hence, we must avoid any trade-in Houbi Token as of now and wait for any better price action to be formed.
Technical Levels
- Support Level – The Support level for the Houbi Token crypto is 2.6014-2.4698
- Resistance Level – The Resistance level for the Houbi Token crypto is 5.5775-6.2014 and 8.9010-9.3465
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
