- Helium Coin spotted close to its fresh 52-week low along with a 19% weekly gain.
- Technical indicators suggest that HNT has bottomed out and become trading ahead.
- A 112% increase in trading volume in the last 24 hours, is a sign of buyers’ accumulation.
Helium coin (HNT) was an extremely volatile asset in early 2022 because of its unidirectional swings. Many investors have liquidated due to high volatility. Since its all-time high level of $59.27, bears continue dominating HNT price downwards while each rise in price, and this moving pattern is not finished yet.
HNT on Weekly Time-Frame
The market cap of HNT crypto rose over 19% in the last 24-hours recorded at $600 Million. Due to this price surge, crypto is approaching the 20 day exponential moving average as the next bullish hurdle. Breakout above this barrier, may fuel buyers acceleration in this week. Notably, A 112% increase in trading volume in the last 24-hours, is a sign of buyers’ accumulation.
Technical Indicators
RSI and MACD, both traditional indicators, show upwards momentum for Helium coins. RSI reached halfway for more trading. Similarly, bullish crossover of MACD indicators hints may help buyers to break 20-EMA in next few sessions.
HNT On Daily Price Chart
The market cap of HNT crypto rose over 19% in the last 24-hours recorded at $600 Million. Due to this price surge, crypto is approaching the 20 day exponential moving average as the next bullish hurdle. Breakout above this barrier, may fuel buyers acceleration in this week. Notably, A 112% increase in trading volume in the last 24-hours, is a sign of buyers’ accumulation.
Technical Indicators
RSI and MACD, both traditional indicators, show upwards momentum for Helium coins. RSI reached halfway for more trading. Similarly, bullish crossover of MACD indicators hints may help buyers to break 20-EMA in next few sessions.
Conclusion
Although Helium coin is fluctuating its 52-weeks bottom level, upside momentum is likely because daily price action draws higher lows and RSI and MACD favor bulls. At the time, 20-EMA stands as an immediate bullish hurdle.
Support level- $4.0 and $3.0
Resistance level- $6.0 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 the financial investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/09/20/helium-price-analysis-hnt-is-likely-to-bottom-out-based-on-choppiness-index-would-you-long-crypto/