Current and Past Price Movement
At the time of writing HNT stands at the price of $31.52 with an increase of 7.26% in the last 24 hours and an overall increase of almost 82.71% in the month of October. The daily trading volume has increased by almost 8.04% in a single day. HNT at the time is one of the highest gainers today among the top 100 cryptos.
The start of Q4 has been highly bullish for most of the coins. HNT established its ATH on 30th October (today) and reached a price of $31.72. This month has been highly bullish for the price. September turned out to be bad for HNT and the price dropped by 30.37%. The price dropped from $25.28 to $16.21.
On coinmarketcap HNT is listed in the 53rd spot and has a market dominance of about 0.12%. HNT has a circulating supply of almost 223M coins and the circulating supply of almost 101M.
Technical Analysis:
On the monthly timeframe, we can see that HNT has formed a bullish and engulfing candle. This along with the fact that the market hasn’t done any kind of deep correction calls for around 50% retracement on HTF. On weekly, we can see that the price has done a major break of structure this week from around $26.6 with a highly momentous candle. As a result, a higher high is formed and we can anticipate a higher low from here.
On the daily time frame, we can see that in the past price moved efficiently upwards and then created a corrective pattern. During this, the market had respected the trendline from many places but it eventually broke out on the lower time frames as well.
We can see that during this rally the momentum is really strong and since it has created a new ATH, it’s in price discovery mode. So taking into account the creation of a pole flag pattern we can expect the price to move upwards creating an equally strong move as the first one. The additional confluence of the strong momentum is also important. From there we can expect the price to drop down keeping in mind how the price can unfold there.
Long Term Price Prediction
According to the wallet investor, HNT is a good investment and is going to provide reasonable returns. In a one year HNT is expected to reach a price of $40.550. After five years the price is expected to reach around $117.498
