HT/USD - Huobi Token at Key Support. Can it bounce?
After some time, Huobi Token has arrived at the $5 key support. If it holds here then a possible relief rally is likely, but this depends, very much, on where BTC goes next.
A break below this level would be pretty bad, particularly if HT closes a weekly candle under $5. If that happens, the price will go towards $3 next.
The indicators on higher timeframes are bearish, but the chart starts to look a bit oversold.
The daily RSI is giving a clear bullish divergence, so this level is critical to hold to confirm the possibility of a relief rally.
My bias is a bit bearish on this price action, but if the key support holds, then I will become more optimistic.
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A break below this level would be pretty bad, particularly if HT closes a weekly candle under $5. If that happens, the price will go towards $3 next.
The indicators on higher timeframes are bearish, but the chart starts to look a bit oversold.
The daily RSI is giving a clear bullish divergence, so this level is critical to hold to confirm the possibility of a relief rally.
My bias is a bit bearish on this price action, but if the key support holds, then I will become more optimistic.
Like and follow if you liked my idea!
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