Huobi Token Price Prediction - Why Exchange Acquisition Adds Bounce to HT, Can it 2x to $10

Huobi is trading in the green zone today. In the last 24 hours, the token has gained nearly 10%. At the time of writing, HT was trading at $5.89, according to data from CoinGecko. HT is also up by 27% in the last week.

Huobi token price analysis

Huobi has been one of the top gainers in the last 24 hours. The token has reported more than $17 million in trading volumes. The token has traded in the range of between $5.37 and $5.90, indicating mild volatility.

HT was also affected by volatility in the broader cryptocurrency market following the collapse of FTX. However, it has made the healthiest recovery. The token’s market capitalization has also increased to over $772 million.

There is a lack of market support, given that the broader market is up by less than 1% in the last 24 hours and remains below $900 billion. Therefore, the only thing driving HT’s gains is the support garnered from the broader market.

HT has a Relative Strength Index (RSI) of 45, indicating that the token could lose buying support. The price chart also shows that the uptrend is weakening, and HT could start a trend reversal and head lower. If the uptrend fails, HT will retreat toward $5.50.

Huobi rebranding plans behind uptrend

The Huobi exchange recently announced plans to rebrand, which could explain why the token outperformed others in the market. The rebranding plans for the exchange come amid Justin Sun’s appointment to the Huobi board

One of the things that Huobi plans to focus on is strengthening its brand. With the recent collapse of FTX, exchanges have been left struggling to retain customer trust. Huobi plans to solve this by boosting trust and transparency, which could see the exchange emerge strong during the bear market.

Three altcoins to consider buying today

If you are buying HT today, you might consider diversifying your portfolio with some of the best crypto presales that are happening today.

Dash 2 Trade

Dash 2 Trade is a crypto signals platform that will equip cryptocurrency investors with tools, social trading data, and other tools to help them make informed decisions. The Dash 2 Trade presale has raised more than $6.99 million. The presale is currently in the third out of nine stages.

RobotEra (TARO)

RobotEra is a blockchain gaming platform where players can create robots, buy land and develop it. The RobotEra Sandbox-like metaverse will boost engagement by releasing quarterly updates. The TARO presale has raised more than $224,000, and the first stage could end soon, after which the price will increase.

IMPT

Green investors are rushing to buy the IMPT presale. IMPT is a green cryptocurrency project seeking to lower carbon emissions using blockchain technology. The presale for IMPT has already raised more than $13.2 million. The presale is in the second stage, where 1 IMPT is priced at $0.023.

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