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HT Huobi Price Soars 20% – Time To Buy HT?

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Huobi has had a good run this past week. Despite most of the cryptocurrencies still experiencing the impact of the FTX fiasco, the markets are shining brightly for this native asset of this China-based crypto exchange. The HT rally last week pushed the Huobi Global price by more than 66%. However, in the past 24 hours, the value of this asset has dropped by more than 10%. Is the bull run over, or are we yet to see HY reaching further highs? 

Huobi Price Weekly Chart – What’s the Reason behind this sudden growth

The Huobi Token price was accumulating at $4.3 before the Ht community rallied to form a bullish engulfing pattern the next day. That pushed the Huobi price above the $5 mark. One red candle later, the Huobi price started to push further up, making consecutive green candles on the price charts until 26th November 2022. However, price correction has begun, as there have been two successive reds in the past two days. 

FTX’s wrongdoing pushed the broader crypto market below its coveted trillion-dollar value within a day. Bitcoin and Ethereum dropped to their two-year lows. Both cryptocurrencies are trying to find their way back with little success. Amidst these bearish price movements, cryptocurrency exchanges have started to reevaluate their process; Huobi Global is one of them. The cryptocurrency exchange announced its plans to rebrand last week. The company’s rebranding effort consists of:

  1. Dropping the name Global from “Huobi Global”.
  2. Introducing a new expansion roadmap.
  3. Establishing a presence in the Caribbean region
  4. Plans to increase investments in the Southeast Asian markets
  5. And pursuing strategic mergers with other big names in the industry. 

Last week, Huobi took its first step towards reinvention by reintroducing its affiliate program. The new program consists of an increased commission rate and welcome bonuses, and a reintroduction of the partner management system.

The cryptocurrency exchange has also launched a Huobi Earn program in which users can earn up to 8% APY by depositing USDT. According to yesterday’s tweet, there is also a $5000 USDT prize pool up for grabs. 

Other rebranding and expansion efforts include the change in Huobi’s logo. It has gone from blue to green. 

People’s faith in centralized exchanges has fallen out after the FTX downfall, and Huobi’s latest branding efforts are one of its many efforts to retain people’s trust in CEXs. However, whether or not the HT token maintains the momentum of its latest price trajectory is another matter altogether. 

Huobi Price Hourly Charts – Will the Rising Trajectory Maintain Momentum

The latest trends in the hourly chart show that HT has lost its momentum. Red candles are now dominating the hourly charts, and the token is now trading at $6.50. However, not all is last. There are signs of recovery as the HT token is moving up to form a support at $6.56. Once there, it might move up to retest $6.7. 

Huobi Price hourly charts

Huobi’s current RSI is 36, which means a major price reversal may be on the way. That said, investors recommend diversifying the crypto investments instead of focusing solely on one asset.

Diversify your Crypto Portfolio with the Latest Offerings

You can buy Huobi today as the price chart shows positive signs. But the market is still volatile, and we are still in the loss season. So, it is better to offset your losses by investing in a presale cryptocurrency whose purpose is to fight the market’s volatility. 

Dash 2 Trade is a presale cryptocurrency introduced to give ordinary traders a fighting chance to survive the bear market. Powering a new and inclusive crypto intel platform, Dash 2 Trade is your way to access tools and features designed to help you navigate the volatile crypto market and make market-beating returns. 

Dash 2 Trade has raised upwards of $7 million and is available to buy at $0.0513. Invest in it today before you lose your chance to profit as the price increases to $0.0533 in the next presale stage. 

Conclusion

Huobi’s reinvention to get back into the good graces of the crypto community is commendable. However, we are yet to see if these efforts bear fruit or are another chapter of the “too little too late” story. And while the price charts show positive signs, they can change at any moment because the current investment ecosystem is volatile. 

That is why it is better to look to presale cryptocurrencies such as Dash 2 Trade to offset the losses you may experience by investing in assets already listed on the exchange. These presale offerings allow you to generate profit from the price appreciations of the later presale stages, away from the volatility of the crypto space. 

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