Up 10% at the open! Further gains depend on support

HNT opened sharply higher today, gaining 10% in a single day. However, whether it can hold on to these gains depends on whether it can stay above the key support zone.

Currently, #HNT is right in the demand support zone, where potential buying interest exists. If the price stabilizes and rebounds here, it could go on to challenge the recent high near $0.64, with around 16% upside. Conversely, if the support zone fails to hold and the rebound fizzles, the price risks falling back to test the black support line below, making the short-term outlook unfavorable.

Indicators reveal hidden risks; bullish momentum is weak

Despite the price closing higher, technical indicators are signaling weakness. The Bull/Bear Power (BBP) indicator still shows green bars, suggesting that bulls remain active, but their strength is clearly lacking. Compared with the candlesticks of the past six days, bullish momentum is among its weakest recently. The Chaikin Money Flow (CMF) is also in negative territory, indicating that selling pressure has recently prevailed and funds have continued to flow out. With both indicators weakening at the same time, HNT could face further short-term downside pressure if conditions continue to deteriorate.

On-chain data shines! The number of holders continues to grow

There is some good news, though: the number of HNT holders is steadily increasing, and the number of on-chain holders has now reached 572,350. A rising holder count often indicates that long-term investors are continuing to build their positions and remain optimistic about the asset’s long-term prospects. Market sentiment also remains positive, with CoinMarketCap’s sentiment score at 4 (on a scale from -10 to 10), in bullish territory, reflecting a broadly optimistic market outlook.

Key takeaways for the outlook

For HNT to extend this rally, the key is to hold the current demand zone. Staying above support could open the way toward the $0.64 target. However, the weak technical indicators and fund outflows should not be ignored; if support breaks, the price could fall further. In short: on-chain sentiment is a plus, but the short-term technical picture is under pressure. Keep a close eye on the battle between bulls and bears around the support zone.#美联储10月维持利率概率升至82.3%