Price Prediction: Polkadot Set For Breakout, HUH Token To Surge On Debut
The post Price Prediction: Polkadot Set For Breakout, HUH Token To Surge On Debut appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
Polkadot’s price began to recover and move higher last week and is currently resting on support levels following a brief pullback, with the possibility of using this floor as a launchpad to the upside.
Meanwhile, HUH Token‘s price could surge today during its initial coin offering (ICO) due to strong fundamentals and good presale numbers.
Polkadot (DOT)
Polkadot is currently resting on a strong support level after forming a double bottom. A bullish start to the week could provide additional confirmation for the new uptrend.
Polkadot (DOT0 prices have rallied 72 per cent since October 12, when they reached a low of $32.18.
However, this upswing quickly came to a halt due to profit-taking, knocking DOT back down by roughly 41% in about three weeks, establishing the second swing low at $32.18.
This development has resulted in the formation of a double bottom reversal pattern, indicating additional upside potential.
Polkadot’s price has rallied by only 22% thus far and is likely to offer another ‘buy’ opportunity before entering an ‘up only’ bullish mode.
Source: 4 Hour Chart according to CoinMarketCap.com
As it retests the $35.47 support floor, DOT is currently in a buy zone. A break of this level will almost certainly result in a 20% surge to $42.77.
Polkadot’s price, however, must break through the $37.55 resistance level to confirm the start of this new uptrend.
Regardless of the bullish outlook, if Polkadot price fails to maintain a break above the $35.47 support level, it will indicate that investors are not finished booking profits. In such a scenario, DOT is likely to revisit the $32.23 demand barrier.
While it is possible for Polkadot’s price to sweep below this level in order to accumulate liquidity, a daily close below it invalidates the bullish outlook.
In this case, DOT will continue its descent to the next support level at $29.74.
HUH Token (HUH)
HUH Token is launching on PancakeSwap today, and the price may experience a debut surge as a result of the token’s strong fundamentals and strong presale levels.
According to its creators, the presale allocation for HUH Token was almost completely sold out.
The token’s current value is $1 = 177 HUH Tokens, which means the initial price will be $0.00564. HUH Token’s first psychological barrier will be set at $0.00600.
If it can overcome this barrier, the new cryptocurrency could experience a meteoric rise upon its launch. Volatility is to be expected as the new token establishes itself.
Traders looking to profit from any upswings will add to the volatility in the coming weeks as the long-term bulls begin to form a base.
HUH Token (HUH) has a total supply of 888 billion, according to their White Paper, with 1% (8,880,000,000) already allocated during the presale.
Additionally, it charges a standard buy fee of 15% and a standard sell fee of 20%. These tokens will be distributed as follows:
Normal Buy Fee: 15%:
-5% Liquidity Pool Acquisition
-5% HUH Token Redistribution
-5% Marketing Wallet
Normal Sell Fee: 20%:
-10% Liquidity Pool Acquisition
-5% HUH Token Redistribution
-5% Marketing Wallet
Additionally, HUH Token will have a 5% Dev Wallet that will be used to compensate developers for continuing to improve and adapt HUH Token for the future.
The Marketing Wallet is at 10%, and HUH has a robust marketing strategy in place, including the signing of top social media influencers to help promote the token.
Within the first 12 months, HUH Token intends to be listed on approximately 100 exchanges.
If this happens HUH’s price will become more bullish with each exchange listing, as access to the token becomes easier and more widespread.
Additionally, HUH’s creators have locked in $1 million of liquidity for two years from the date of launch to bolster long-term sentiment.
Follow HUH Token on their Socials:
Telegram: https://t.me/HUHTOKEN
Website: https://huh.social
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
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