Hut 8 stock remains under pressure as oversold conditions limit further declines

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Hut 8 slides 3.32% to $61.85

Highlights

HUT/USD trades below major moving averages on both hourly and daily charts, confirming sustained downside pressure.
Technical momentum is strongly bearish, with multiple indicators showing oversold conditions and dominance from sellers.
Expected trading range for the next 2 to 3 days is $57.19 to $66.51, with a 75% probability of further downside and key resistance at $67.73.

Bearish technical momentum as short-term and long-term supports breached

On the technical side, HUT is trading below the MA-20 ($67.26) and MA-50 ($69.43) on the hourly chart, as well as under the MA-200 ($82.35) on the daily timeframe. Immediate resistance is marked by the Ichimoku Kijun at $67.73, while support sits at $57.19. Momentum indicators are decisively negative: RSI is at 32.01, MACD and ADX both signal Sell, and Stochastic RSI and CCI are in oversold territory. Bull/Bear Power favors sellers, and the Awesome Oscillator also points to a prevailing downtrend.

Downside risk elevated as volatility band narrows

In the short term, HUT is expected to move within a volatility band of $57.19 to $66.51 over the next 2–3 trading days. The probability of continued downside is high at 75%, with only a 25% chance of a move higher. A base case sees price action remaining sideways inside this corridor, while a clear break below $57.19 would trigger further losses; conversely, a bullish scenario would require a close above resistance at $67.73.

Viktoras Karapetjanc, analyst at Traders Union, notes that Hut 8 (HUT) is showing clear signs of persistent seller pressure. He observes that technical momentum remains decisively negative, with key indicators in oversold territory and resistance levels still holding firm. No news events are influencing sentiment, so the outlook is based solely on chart dynamics. He believes the probability of continued downside is high, though a break above $67.73 could shift momentum. "Short-term weakness dominates, but I would be alert for a rebound if resistance is taken out with conviction."

Earlier, analysts noted that Hut 8 faced continued downside risk due to persistent bearish momentum and resistance at key technical levels. The ongoing technical weakness, now reinforced by further declines and widespread oversold signals, highlights $57.19 as a critical support level to monitor for potential price deterioration in the sessions ahead.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.