HNT Technical Analysis: Does The Price Intend To Be Corrected?

The trading week on the HNT market from 20 June closed with some intrigue. Sellers did not respond to the aggressive weekly candle of buyers from 13 January and were satisfied with stopping the price near the important level of $11.27. This liquidity level played an important role from April to July 2021. It is due to the retention of this mark (although there were false breakdowns) that buyers were able to organize the final growth impulse to the mark of $59.27. Source: https://www.tradingview.com/x/FiHQxAxA/ 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 Source: https://www.tradingview.com/x/HXciyFRw/ 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 ...