Helium’s native token (HNT) forms a symmetrical triangle pattern and decisively holds gains above the 20-day EMA mark. Moreover, the token is trying to escape the trendline hurdle of $7.50 to pick the buying momentum. Amidst the market correction, the HNT token did not lose the gains and is maintaining its bullishness.
The Helium (HNT) token price trades in bullish territory and has displayed buying interest in recent sessions. However, the token is well settled for a pullback and is trying to climb above $8. The price action shows a double bottom formation and the token persisted in supporting the upward trendline. The token rebound multiple times from the 50-day EMA signifies that sellers need strong momentum to push the token below it.
The cryptocurrency price was $7.16 at press time, with an intraday drop of 1.42%, showing a pullback from the 50-day EMA mark. Moreover, the trading volume increased by 39.85% to $5.26 Million, highlighting buyers’ accumulation. The pair of HNT/BTC was noted at 0.000167 BTC, and the market cap is $700.53 Million. Analysts are bullish and suggest that the Helium token will retain bullishness and may skyrocket above $9 soon.
HNT on Daily Charts Displays Symmetrical Triangle Formation
The HNT token price showcases bullish momentum on the daily charts and is ready for fireworks in the following sessions. Moreover, the token is close to the upper trendline hurdle of $7.50 and is glimpsing uptrend on the charts. The token delivers the uptrend and glimpses of investor interest for the past sessions.
The Relative Strength Index (RSI) curve stayed close to the midline and showed a positive divergence on the charts. Moreover, the Moving Average Convergence Divergence indicator shows a bullish crossover, and the green bars formed on the histogram suggest a positive outlook and anticipate a bull run for the following sessions.
HNT On Weekly Charts Reveals Rounding Bottom Formation
On the weekly charts, the HNT token enlisted a sharp reversal from the lows of $1.30 and recovered over 100% in the recent sessions. Moreover, the token is ready to blast above the neckline hurdle of $9 and may rocket toward $12 in the following sessions. Per the Fibonacci retracement levels, the HNT token price has sustained above the 50% zone and is targeting to escape the 61.8% zone.
Summary
Helium (HNT) token price noted buyer accumulation and decisively held the gains in the bullish territory. Furthermore, the token is well poised for the upside and is signaling a rise toward $9 in the following sessions. If the token surpasses the trendline of $8, it may boost gains toward $10 soon.
Technical Levels
Support Levels: $7 and $6.50
Resistance Levels: $7.80 and $8
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
Source: https://www.thecoinrepublic.com/2024/02/06/hnt-price-prediction-will-hnt-retain-10-mark-amid-volatility/