BINANCEUS:HNTUSD has strong fundamentals and news that continues to shine even during the recent pullback. If today’s Daily candle can close over the 23.6 fib extension then we could see nice price action back to $40 plus range. If you haven’t purchased any $HNT yet I highly recommend looking into their project. Continue to monitor $HNT as they keep releasing new 5g news! Look in to HNT mining if you haven't heard of it yet.
Trade: Daily close over $34.8 price level would signal a solid entry for a swing trade.
Risk: You could risk off of the 50 EMA convergence zone and edge of HVN at about $33.75. This would give you roughly 8% SL.
Profit: Profit taking would come in around $40-$41 as this is edge of the next HVN as well as 38.20% fib extension and fib retracement on the daily chart. This is almost a 2-1 R:R. Not the most appealing but HNT is such a great long term investment IMO.
As always DYOR - Not Financial Advice!
Trade: Daily close over $34.8 price level would signal a solid entry for a swing trade.
Risk: You could risk off of the 50 EMA convergence zone and edge of HVN at about $33.75. This would give you roughly 8% SL.
Profit: Profit taking would come in around $40-$41 as this is edge of the next HVN as well as 38.20% fib extension and fib retracement on the daily chart. This is almost a 2-1 R:R. Not the most appealing but HNT is such a great long term investment IMO.
As always DYOR - Not Financial Advice!
Trade active:
Scaled out of the trade 25% at $41.45. Looks like $HNT is consolidating for another leg up. Hopefully the crypto market holds up well enough in the meantime!