HTX Token Maintains Relative Stability, but Can It Maintain It in Bearish January 2022?

January 2022 is nearly over, and so far, it has been quite unfavorable for the crypto sector. As last year approached its end, many had hoped that the new one will kick off with a new rally and take the crypto industry back to its heights, perhaps even allowing it to reach new ones.

For the time being, that seems to be out of the question, as most coins are seeing extreme losses. However, not all of them are in such a desperate situation. HTX Token (HT), for example. The coin is far from skyrocketing, but the coin’s 1-year chart shows that its recent fluctuations — rapid and violent as they may seem — are not that different from what the coin has been experiencing for the last several months now.

In fact, HT seems to even be relatively stable, fluctuating between $8.6 and $10 for months now. This kind of price activity has been perfect for short-term traders, but the rest of the crypto world is now wondering whether HTX Token can maintain this relative stability in light of the recent crashes.

HT price performance

Generally speaking, HTX Token has performed pretty well in the first half of 2021. The coin was skyrocketing since the start of the year, hitting $25.9 around February 19th. After correcting to $13 on February 28th, and then $12.58 by March 24th, the coin skyrocketed again, this time reaching an all-time high of $35.

This was in mid-May, right before the crypto crash robbed most coins of 50% of their value or more. HT itself sank from $35 to $12.8 initially, losing more than 50 during that first drop. After attempting to recover, the coin only reached a resistance at $16, which rejected it in early June, sending it to its latest support at $8.

When a market-wide recovery kicked off on July 20th, most coins rushed up to old and new ATHs. HTX Token, however, did not get very far. Hitting a resistance $15, the coin only managed to breach this level once and climb to $17.24 before being rejected which sent it back down to $14.

Then, in mid-September, the coin saw a drop to $7, from which it recovered in late October, reaching a new resistance at $10.

From that point forward, HTX Token has been trapped between the two mentioned levels, $8.6 and $10, and it kept going from one to the other. It ignored all major market trends and activities, including the surge in November, and the following crash. It Ignored a recovery before the holiday season’s start, as well as the crash that took place around Christmas.

HT in 2022

The coin entered the new year with a price of $9.4, which it held until January 6th. After that, it dropped to $8.6, only to recover to $10 by January 15th. After spending five days trying to breach this resistance, HT once again dropped to $8.6.

Although, it is worth noting that its fluctuations have been a bit more chaotic as of late, especially over the past three days or so. Regardless, HT is still managing to stay within the levels that held it since October 2021. Whether or not this can continue is the real question, and a definitive answer is not yet known.