HUOBI Token Price Prediction 2021 – Will HT Hit $50 Soon

This HUOBI Token Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our HT price analysis and prediction.

Many digital assets have spiked in 2021, with some beating their ATH from the 2017 bull run. Perhaps the most interesting is Bitcoin, which was well on its way to approach $70,000 if it sustained its bull run.

With HUOBI (HT)’s current statistics and performance, will HUOBI (HT) become one of the best cryptocurrencies to invest in 2021? We’ll find out in this HT price prediction. But before we start our Bitcoin SV price analysis, let us first answer the question, “What is HUOBI (HT)?”

What is HUOBI Token (HT)?

Huobi Token (HT) is an exchange related token and native currency of the Huobi crypto exchange. Moreover, the HT can be utilized to purchase monthly VIP status plans for transaction fee discounts, vote on exchange decisions, receive early access to special Huobi events, get crypto rewards from seasonal buybacks and trade with other crypto assets listed on the Huobi exchange.

HT was launched in 2018 much like the Binance Coin. Moreover, the use of the token is incentivised – it offers holders VIP access, discounts, liquidity buybacks, and voting rights. Since early 2018, when the token was launched, Huobi has bought and burned tokens on a quarterly basis in an effort to stabilise the currency and curb inflation.

Now that we have an idea about HT, do you think HT will be profitable crypto in 2021? Join me and let us see the charts in this HT price analysis and HT price prediction.

HUOBI Token (HT) Current Market Status

As of the time of writing this Huobi Token (HT) price analysis, HT trades at $9.08 with a 24-hour trading volume of $359,981,462. The price of HT has decreased by 7.43% in the last 24 hours.

Furthermore, HT has a current circulating supply of 170,704,593.25 HT. Currently, the top cryptocurrency exchanges for HT are Huobi Global, FTX, Hotcoin Global, ZBG, and BitForex.

Now, let’s proceed to the next part of this HT technical analysis for 2021.

HUOBI Token Price Analysis

Currently, Huobi Token (HT) holds 49th place on CoinGecko. But will the latest upgrades, development, and changes in the HT blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this HT price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Triangle pattern. This is an important indicator since HT has been showing bearish over the past month. Consequently, the descending triangle pattern hints that HT will finally go bearish

In the foreseeable future, we can say that HT has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, HT turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is above 27, which means that HT is in an oversold state. Hence, this may proceed to a price reversal at any given time. 

Therefore, traders need to trade crypto cautiously and must not be affected by the market hype. Keeping all this in mind, crypto traders need to be aware and move away from unexpected losses due to the crypto market’s huge swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of HT.

Since the start of 2021, HT’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, HT has a competitive market this 2021.

HUOBI Token Price Prediction 2021

The chart below shows that Huobi (HT) has performed bearish over the past few days. If this trend continues, HT might run along with the bears, falling towards $109.

Conversely, if the investors turn towards crypto, the bulls might take over HT from its downtrend position. In simpler terms, the price of HT might plummet to $9, a bullish signal.

Meanwhile, our long-term HT price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $39.81 this year. However, that will only happen if it breaks many past psychological resistances.

Conclusion

Huobi (HT) has a bright future ahead of it in 2021. With the ongoing developments happening within the HT ecosystem, as well as in the overall crypto market, we may see HT reach new heights. Bullish HT price prediction 2021 is $39. As said above, it may even reach $50 if investors have decided that HT is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/huobi-token-ht-price-prediction-2021/