Helium Price Analysis: HNT Recovered above $10.00, Bulls Sustain or get Detained?

• Helium price is trading with strong uptrend momentum inside the consolidation phase at 2021 lows. 
• HNT crypto has recovered above 20 and 50 EMA, but still below 100 and 200-days Daily Moving Average.
• The pair of HNT/BTC is at 0.00432 BTC with an intraday loss of 0.44%.

The price of Helium has been falling within a parallel downward channel, but the token once managed to break free of it. However, HNT was stuck in the region that was confined by the horizontal range. The coin needs to attract buyers if it is to advance above the consolidation stage. HNT coin needs to attract buyers in order to exit the consolidation phase. It is now essential for the bulls to give the token a boost so that it can rise because the HNT currency has been consolidating at its 2021 lows. HNT is currently on an uptrend as it moves closer to the upper range of the consolidation period.

Helium is now CMP $10.13, and it has gone up 6.18% in price over the last day. The trading volume increased by 42.72 percent during the intraday trading session as well. This shows that bulls are stockpiling to help HNT get closer to the higher trendline. Volume to market cap ratio is 0.01336.

Source: HNT/USD by TradingView

HNT coin price must gain support from the bulls to sustain at the upper range of the consolidation phase. The token may experience short selling pressure are soon as it reaches near the upper range of the consolidation phase. Meanwhile, volume change can be seen below average and needs to grow for HNT to escape the consolidation phase. HNT crypto has recovered above 20 and 50 EMA, but still below 100 and 200-days Daily Moving Average.

What do Technical Indicators suggest about HNT?

Source: HNT/USD by TradingView

HNT coin price must try to surge towards the upper price range of the consolidation phase. Technical indicators show the uptrend momentum of HNT coin. Relative Strength Index showcases the uptrend momentum of HNT coin. RSI is at 58 and is heading towards the overbought territory. MACD exhibits the bullish momentum of HNT coin. The MACD line is above the signal line after a positive crossover. HNT investors need to wait until bulls sustain at the upper range. 

Conclusion   

The price of Helium has been falling within a parallel downward channel, but the token once managed to break free of it. However, HNT was stuck in the region that was confined by the horizontal range. The coin needs to attract buyers if it is to advance above the consolidation stage. HNT coin needs to attract buyers in order to exit the consolidation phase. It is now essential for the bulls to give the token a boost so that it can rise because the HNT currency has been consolidating at its 2021 lows. Meanwhile, volume change can be seen below average and needs to grow for HNT to escape the consolidation phase. Technical indicators show the uptrend momentum of HNT coin.  The MACD line is above the signal line after a positive crossover. HNT investors need to wait until bulls sustain at the upper range. 

Technical Levels

Support Level: $8.50 and $8.20

Resistance Level: $9.25 and $10.95

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.     

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