HNT's Recent Surge:
Bullish Uptick: HNT price has seen a promising 10% jump within 48 hours, challenging the short-term resistance trendline. Breakout Potential: This reversal suggests a possible breakout scenario, potentially pushing HNT towards $10. Historical Performance and Resistance:
Market Downturn: HNT has been under bearish influence in recent weeks, dropping 11.28% in the last 30 days. Falling Channel: The current price pattern creates a falling channel, indicating a potential downtrend. Technical Analysis:
RSI Indicator: The daily RSI remains near the middle, offering no clear bullish or bearish signal. EMAs (Exponential Moving Averages): The 50D and 200D EMAs are close to a death cross, which could be a bearish indicator. Price Target and Resistance Levels:
Breakout Target: If the uptrend continues, HNT could reach $10, fueled by the recent momentum. Resistance Levels: Potential hurdles exist at $6 and $8, which could stall the upward movement. Overall Sentiment:
Market Turnaround: The overall market sentiment seems to be shifting, potentially aiding HNT's potential breakout. Caution Advised: Despite the bullish signs, the threat of a bearish continuation remains due to the falling channel and potential death cross.
https://coinpedia.org/price-analysis/is-hnt-price-crossing-10-milestone-this-may/