Helium Price Prediction: HNT Price Faces Hurdle, How Long Will The Correction Happen?

• After the consolidation phase, Helium price is moving above the resistance levels.
• Due to the high-low momentum, the $4.5 area appears to be the next resistance.
• The trading volume registered an increase of 32% in the last 24 hours.

Helium (HNT) is taking a rest today after rallying in the past few days. Global markets are looking stable, in fact, crypto market is also inching closer to being bullish to survive for a long period of time after the fall in the consolidation phase.

Helium price (NHT) is gaining momentum due to positive conditions. Amid consolidation, speculators expected a further decline to another 52-week low of $1.49. The vital round level at $1.0 was a key demand area, but the bulls reversed the downtrend before retesting this support area.

Finally, the market king – Bitcoin broke through an important resistance level, holding its price above $20K. Meanwhile, Helium forms its third consecutive green weekly candle this week. Bulls should close the week closing in positive territory to flip the 20 simple moving average as support on the weekly chart.

At the time of writing, Helium price is trading at $3.16 against USDT. As expected, the bears are in control of today’s trading session as it was down 3.76% at that time. Market capitalization is still up 2.67%, at the reported $432.29 million. Despite today’s correction, HNT recovered more than 100% in just 18 days in January.

The trading volume decreased in the last few days as it stood at $7 million according to overnight data. Similarly, volatility tends to decrease after a sharp rally. Either way, the bulls need to maintain HNT price above the 20, 50 and 100 day simple moving averages in order to extend HNT valuations in a big way.

Closer to the $4.0 area, the analyst is expecting another price correction before an aggressive uptrend. Similarly, on the daily price scale, the 200 Day Moving Average (RED) stood as an indicator showing strong directional signals, so a breakout of the 200 SMA could change the overall bearish nature of Helium Coin.

Conclusion

Helium (HNT) price is trading inside the previous bullish candle. The buyers should wait for the weekly high breakout before taking any latest bullish calls. Bulls have several trend turning points at the same time, Bears also have some key areas, so up to 200 SMA, HNT price may move upwards.

Support level – 2.0 and $1.5

Resistance level – $5.0 and $10

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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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