Should you buy Hathor as it is nearing a breakout?

Hathor (HTR/USD) was trading above 10% on Thursday. Investors are now looking for an entry into Hathor, as it is facing a long-awaited breakout, which could lead to the achievement of some major goals. Launched in 2020, Hathor is a proof-of-work blockchain network designed for light financial transactions and contracts. Hathor has fallen by over 50% against the new all-time high reached in early November and is now showing signs of an early breakout to the upside. It has formed a symmetrical triangle. However, a downward breakout was observed earlier this month. However, many investors are still unsettled and think that Hathor could fall even further. Should you buy Hathor in the hope of a new all-time high?

Here’s what the charts indicate:

  • Hathor was worth over 10% höher on Thursday and higher purchase volumes were observed, indicating a rally before a breakout.

  • After a downward breakout from a symmetrical triangle, Hathor reversed and began to rise back up and is now very close to the trend lines.

  • It looks like hätte Hathor corrected after a sharp rally in November. It has now corrected to the 0.786 Fibonacci level, which could be a reversal zone for Hathor.

  • Investors should be careful, as Hathor has shown a lot of weakness in recent weeks and the breakout could fail. Therefore, a long entry should only be made when a clear breakout is seen or the 50-day moving average is exceeded. This indicates a bullish trend and indicates a high bullish momentum.

  • Investors may want to maintain a stop loss, as this may occur and could keep many investors trapped in a long trade. Therefore, investors can also wait for a re-test before they enter.

  • A target of $1.74 can be set, followed by $1.92 and finally a new all-time high in the coming months.

Should you buy Hathor as it is nearing a breakout? appeared first on Coin Hero.

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