HNT/USDT (H12) Time Frame Analysis

18 day(s) ago
figure #1
(You are recommended to have a close look at the chart and read through all the details to get a better understanding of the analysis.)

Price previously rose and hit its ATH and was rejected from golden fib ratio level of 3.618 resistance starting from $52.80 to $55.38. We currently can see an ascending flag formation on lower time frame and price is approaching a good support zone which is the 2.618 level of fib retracement where D1 21 EMA is also acting as a good support starting from $47.00 to $44.70.

We have higher chances of price reversing from this support zone, where a bounce off and breaking through the resistance zone at 3.618 will be a strong bullish sign for the price to continue moving upwards to the next resistance at $65.00

Incase of a breakdown we have a free fly zone where we have a minor support at the zone starting from $33.80 to $31.10 and finally a major support at the 0.6.8 fib level along with a major support zone from $25.90 to $22.30

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