TradeCityPro | HNT: Key Support & Potential Breakout Levels

👋 Welcome to TradeCity Pro!
In this analysis, I will review the HNT coin. This project is part of the Web & IoT sector and operates within the Solana ecosystem.

📅 Weekly Timeframe
In the weekly timeframe, we can see a consolidation box that formed after a strong upward leg. The bottom of this box is at $3.007, while the top is at $9.696.

🔍 A curved trendline is also visible, which previously supported the price from $1.226 to $9.696. However, this trendline was broken, triggering a downward move. As a result, selling pressure increased, leading to a decline towards the bottom of the consolidation box.

🔽 Currently, the price is at a critical support level that could determine the trend for the coming months. If RSI stabilizes below 36.52, it would indicate strong bearish momentum, increasing the likelihood of a break below $3.007.

⚡️ If this support level is broken, the market structure will change, and the price could drop further to the $1.226 support level.

📈 If the price rebounds from this support and starts forming a bullish structure, the most important breakout trigger will be at $9.696. If this level is broken, the next upward leg could begin, with a target of $30.787.

📅 Daily Timeframe
In the daily timeframe, we can observe the latest price movement in greater detail.

💥 After reaching the $9.210 resistance and facing rejection, bearish momentum intensified, causing the price to decline sharply in a waterfall pattern, dropping to $3.177.

🔑 In waterfall declines, a trendline usually forms, and breaking this trendline typically ends the move, leading to a range-bound phase. Therefore, if the price breaks this trendline, I expect the downward leg to end. Confirmation could also come from RSI breaking above 43.18.

📉 For short positions, an entry can be considered if the $3.177 support breaks. If this happens, stronger bearish momentum could push the price toward the $2.104 support level. However, I believe that if the price ranges and consolidates above $3.177 before breaking down, the short setup would be more reliable.

🔼 For long positions, no clear structure has formed yet. We need to wait for price action to develop and provide valid entry triggers.The first potential trigger is at $4.220, followed by 5.474.However, these levels could shift if a new price structure forms, so I recommend waiting for updated triggers before entering a long position.

📊 Market volume analysis shows that selling volume dominates, with large red candles exceeding the size of green candles during corrections. This suggests that sellers currently control the market momentum.



📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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