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A Bounce Back Occured in the Helium Crypto Price; What Next?

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The price of the Helium cryptocurrency (USD: HNT) is showing mild bullishness and is trading near the resistance line. Buyers are eager to overcome obstacles and reach new heights. The HNT cryptocurrency has increased by more than 31% in the past month. Prices trading above major moving averages indicate a bullish mood. 

The price action signals that the HNT cryptocurrency has broken multiple highs and demonstrated the strong strength of the buyers, which continues to sustain buying momentum.

At the time of publication, the Helium cryptocurrency was trading at $6.630 with an intraday loss of 3.51 indicating bearish sentiment on the charts. Moreover, the intraday trading volume also decreased and is currently at 40.882 million. The market capitalization of Helium cryptocurrency is $1.056 billion.

The oscillator indicates that the current price is overbought. Investors are optimistic about next week’s results. Helium cryptocurrency’s price has risen slightly by about 2.07% over the past week and by 31.95% over the past month.

Moreover, in the long term, the cryptocurrency has also performed well, with the price rising about 353.88% in the last three months and about 308.66% in the last six months. The crypto’s performance over the course of the year has also been good, with the crypto surging by 346.52% last year.

Technical Analysis of Helium Crypto Price in 1-D Timeframe

A Bounce Back Occured in the Helium Crypto Price; What Next?
Source: Helium.1D.USD by TradingView

Helium (USD: HNT) crypto has seen a steady rise over the past three months, gaining 356% and 32% over the past month. Currently, the HNT cryptocurrency price is trying to maintain its current level even after the unexpected price surge.

If he maintains this level, the price of Helium may continue to rise and reach the first and second targets of $7.598 and $9.661. However, if the HNT price fails to maintain this level and falls, it may reach the nearest $4.749 and $4.258 support levels.

The Helium (USD: HNT) cryptocurrency is currently trading above its 50-day and 200-day daily moving averages (DMA), which supports its price momentum.

However, as buying volume increases, the price can create new highs to increase bullish momentum. Therefore, the Helium price is expected to move higher and remain strong on the daily chart. 

The RSI curve is hovering at the middle level showing neutrality on the daily timeframe chart. Moreover, the MACD took a reversal from the middle line showing bullishness on the chart.

Summary

Technical oscillator Helium (USD: HNT) also supports the bullish trend. MACD, RSI, and EMA highlight positive signals, suggesting that the upward trend in the price of the HNT cryptocurrency may continue. The price action suggests that investors and traders are optimistic on a daily basis. 

Price movements reflect the current optimistic outlook. Helium Investors avoid fear of loss. Scarcity is being created in the cryptocurrency market to attract more investors and lenders. It could be one of the new sources of market volatility, so it’s best to keep your distance.

Technical Levels

Support Levels: The Helium crypto price may find support at $4.749 and  $4.258 where it could bounce back or stabilize.

Resistance levels: The HNT crypto price may face resistance at $7.598 and $9.661 where it could reverse or consolidate.

Source

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About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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