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Hathor worth buying as it nears an outbreak?



 Hathor (HTR / USD) was up over 10% on Thursday. Investors are now looking to get a hold of Hathor as it approaches a long-awaited breakout that could lead to the achievement of some big goals. Launched in 2020, Hathor is a proof-of-work blockchain network designed for light financial transactions and contracts. Hathor is down over 50% from a new all-time high hit in early November and is now showing signs of an imminent breakout to the upside. It formed a symmetrical triangle. However, a downside breakout was observed earlier this month. However, many investors remain unsettled, thinking that Hathor could fall further. Should you buy Hathor in hopes of a new all-time high?

  • Hathor was up over 10% in value on Thursday and increased buying volumes have been observed, suggesting a rally before a breakout.

  • After breaking down from a symmetrical triangle, Hathor reversed and started rising again and is now very close to the trend lines.

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

  • Investors need to be careful as Hathor has shown a lot of weakness over the past few weeks and the breakout could fail. Therefore, a long entry should only be made if a clear breakout can be seen or the 50-day moving average is exceeded. This confirms a bullish bias and indicates increased bullish momentum.

  • Investors need to maintain a stop loss as Hathor could fake it and trap many investors in a long trade. Hence, investors can also wait for a retest before jumping in.

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

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