Honk (HONKUSD) Price Forecast: February 7
The HONKUSD pair is soaring higher above the supply levels trying hard not to fall by resisting sellers. The crypto price which trades at the $0.0160 high level will go higher and surpass the current price if the bullish pressure persists, the coin price might exceed the $0.0180 resistance level, resulting in a high turnaround and a good buy crypto signals for the interested traders.
Key Levels:
Resistance Levels: $0.0140 $0.0150, $0.0160
Support Levels: $0.0070, $0.0060, $0.0050
HONK (USD) Long-term Trend: Bullish (1H Chart)
The Honk price action is soaring above the supply levels and remains strongly bullish on the higher time frames. This is clear as the prices soared higher, making higher highs and higher lows above the moving average lines indicating an uptrend.
However, the previous action at the $0.0124 high level in the past session has sustained the coin price to remain strong above the trend line in its recent high.
The bulls increase their pressure and the price of HONKUSD increases accordingly to the resistance level at $0.0160 as the 1-hourly chart opens today, resulting in intraday gains.
Hence, the crypto price which is soaring higher above the resistance levels and remains stable indicates a strong possibility for a bullish correction and also enables the buy traders to dominate the market.
Similarly, the Honk price may continue soaring higher above the supply levels as shown by the price indicator pointing up; it means that the buying pressure may likely continue and the market value of HONKUSD could reach a key level at $0.0180 at the upside, and beyond in the long-term outlook.
HONK (USD) Short-term Trend: Bullish (15-Minute Chart)
The momentum on the lower timeframe is undeniably bullish. The Honk price is also soaring higher above the supply levels, so it seems likely that the bulls will continue soaring higher as they stand to their stand.
The impulse move from the bulls to a $0.0123 high level in the past session has enhanced the HONKUSD price to remain strongly bullish in its recent high.
The buy traders pushed the coin up to a $0.0160 high level above the resistance trend lines shortly after the opening of today’s 15-minute session as the bulls continued soaring higher above the supply levels.
Hence, the price of Honk which is soaring higher above the supply levels might continue in the same direction as indicated by the daily signals pointing in an upward direction. As a result, the price may hit the $0.0180 upper resistance level soon in its lower time frame.
Buy Honk on Longhorn
Leave a Reply