Here’s why Hut 8 is sliding (January 22)

Traders Union
All News
Financial News
Hut 8 Slides 5.16% Today

Highlights

HUT trades at $55.90, above its 20-day ($55.26), 50-day ($46.56), and 200-day ($30.46) moving averages, indicating a bullish structure across timeframes.
Despite a downward move of 5.16% today and high intraday volatility, short-term momentum remains weak with ADX low at 17.50 and oscillators mixed.
A very high probability of upward movement is projected, with next week’s price expected between $64.94 and $67.48 unless support at $55.00 or $48.55 is breached.

Anton Kharitonov, expert at Traders Union, points to a mixed technical picture in HUT, as momentum has softened despite a generally bullish long-term structure. He notes the lack of supportive news or fundamental tailwinds, which could weaken investor conviction and make the asset vulnerable to further selling pressure. While HUT remains above key moving averages, Kharitonov warns that intraday volatility and a session close near lows reveal increasing risk. With the ADX still low and short-term momentum signals negative, he considers the current rally unstable. "Traders should approach with caution as a break below $55.00 or the Ichimoku Kijun at $48.55 could trigger a sharper correction," Kharitonov states.

Viktoras Karapetjanc, expert at Traders Union, sees the bullish structure in HUT as clearly intact and supported by strong weekly momentum readings. He emphasizes that prices are well above the 50-day and 200-day moving averages, indicating firm underlying demand and potential for further upside. Karapetjanc believes that despite the lack of news, technical and macro signals remain stacked in favor of the bulls, with historical volatility band offering room for additional gains. He anticipates that the current pullback could offer new entry points for growth-seeking investors. "I expect HUT to sustain its upward movement and target the $64.94—$67.50 range in the near term," says Karapetjanc.

Parshwa Turakhiya, analyst, highlights the short-term selling pressure and volatile trading in HUT after today's 5.16% drop. He observes that although the price holds above the 20-day moving average, momentum indicators are diverging and the Awesome Oscillator signals uncertainty. Turakhiya believes the session’s low close is a warning of persistent short-term weakness, but technical structure keeps the bullish case open if support holds. "If buyers defend $55.00, a snapback to upper resistance is possible — but the next moves will be driven by sentiment rather than clear trend signals," Turakhiya concludes.

Mixed momentum signals as technical support counters selling pressure

At the current price of $55.90, HUT trades just above its 20-day moving average ($55.26), comfortably above both the 50-day ($46.56) and the 200-day ($30.46) moving averages, which signals a maintained bullish structure in the short, medium, and long terms. The nearest dynamic support is provided by the Ichimoku Kijun line at $48.55, while immediate resistance could be encountered near the recent highs or the next round level above. Momentum is mixed: daily MACD signals strong buying but the ADX remains low at 17.50, pointing to a weak trend overall. Oscillators present a divergence — RSI and CCI indicate moderate upward bias but Stoch RSI is neutral and nearing oversold readings, while BBP on D1 suggests an overbought market yet short-term timeframes show selling pressure dominating intraday. The Awesome Oscillator is neutral and does not add conviction to the trend. Today’s trading shows a clear downward move, with the price slipping 5.16% and no noticeable gap at the open. The price sits near the session’s low after a high/low range of $55.79 to $60.87, marking high intraday volatility and a tone of continued selling pressure since the open, with short-term momentum signals confirming this weakness.

Previously it was reported that Hut 8 Corp maintained sustained bullish momentum above all key moving averages, though mixed technical signals emerged as intraday volatility and a 3.61% pullback signaled short-term divergence. With momentum indicators providing a blend of strong buy and overbought cues, price action is expected to trend sideways within the volatility band of $51.00 – $62.00 as the probability of an upward move remains high unless support at $51.00 fails.

Source of Data: HUT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.