outlook remains bullish as the price is above the 200-day
A project ranked 63rd on CoinMarketCap experienced a 3.5% intraday decline and a nearly 9% drop over the week. Despite this, the asset remains fundamentally strong and has been in an uptrend, consistently making higher highs and lows on the daily chart.
As of now, HNT is trading at $7.03 with a market cap of $1.13 billion. Its growth is driven by its real-world physical infrastructure networks, making it a leading project in the DePIN category.
Currently, HNT is in a breakout stage, having faced resistance at the $8.50 level for the past 10 days, which has kept the price in the red.
In the long term, the outlook remains bullish as the price is above the 200-day and 50-day EMA bands. However, in the short term, it has dipped below the 20-day EMA.
If the sell-off by profit-takers isn't too intense, a rebound towards $10 is likely. Conversely, a breach of the 50-day EMA would be concerning, and falling below the 200-day EMA could shift the trend from bullish to bearish.
As of now, HNT is trading at $7.03 with a market cap of $1.13 billion. Its growth is driven by its real-world physical infrastructure networks, making it a leading project in the DePIN category.
Currently, HNT is in a breakout stage, having faced resistance at the $8.50 level for the past 10 days, which has kept the price in the red.
In the long term, the outlook remains bullish as the price is above the 200-day and 50-day EMA bands. However, in the short term, it has dipped below the 20-day EMA.
If the sell-off by profit-takers isn't too intense, a rebound towards $10 is likely. Conversely, a breach of the 50-day EMA would be concerning, and falling below the 200-day EMA could shift the trend from bullish to bearish.
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