Hello traders . this is quick update for HNT , so let's start with the daily chart .
in the daily chart we can see ; after the big bull run , price was range between 2 daily structure and after breaking the daily structure create descending channel or you can also say this is bull flag ; and now it's seems to price break out from the channel . what is the potential targets :
if we count this as flag , the potential target could calculate like above picture , by using the fib projection tool ; in my opinion the first target could be around 0.618 fib level which is alignment with the ATH . but the technical target of the flag should be at 1.0 fib level .
here is the 4H time frame :
in the 4H time frame we can see , at the point of the break out , we have huge amount of the volume , which means this is legitimate break out ;
also ema ribbon flipping bullish and now price comes back to retest the channel and also the ema ribbon .
in the daily chart we can see ; after the big bull run , price was range between 2 daily structure and after breaking the daily structure create descending channel or you can also say this is bull flag ; and now it's seems to price break out from the channel . what is the potential targets :
if we count this as flag , the potential target could calculate like above picture , by using the fib projection tool ; in my opinion the first target could be around 0.618 fib level which is alignment with the ATH . but the technical target of the flag should be at 1.0 fib level .
here is the 4H time frame :
in the 4H time frame we can see , at the point of the break out , we have huge amount of the volume , which means this is legitimate break out ;
also ema ribbon flipping bullish and now price comes back to retest the channel and also the ema ribbon .