Following the dropdown move from the height of $9.60, the HNT price continues to showcase immense buying pressure at lower levels. Further, the bullish reversal projects a potential double bottom reversal with the dynamic support of the 50-day EMA. Under such conditions aligned perfectly for a bullish comeback, will HNT price reach the $10 mark?
Moreover, with the market giving healthy signals of recovery as the GBTC outflows take a pause, the altcoins are ready for a comeback. As the Helium price is ready to skyrocket, check out our HNT price prediction to find out will the HNT price reach $100.
Source – Tradingview
With a boost in the intraday trading volume reaching the 676K mark, the HNT price makes a huge bullish engulfing candle. Leading to a price jump of 17%, Helium continues the higher low formation and sustains dominance above 50-day EMA.
Moreover, the recent bounce-back presents a pattern similar to the double-bottom increase in the bull run possibility. With a neckline at the $7.50 mark, the breakout of this pattern can prolong the recovery rally to the $10 psychological mark.
Currently, the HNT price trades at $6.990 and takes a short pause following the huge jump. Moreover, Helium completes a morning star pattern formation at a crucial level of support and high demand. Therefore, the bullish comeback possibility is increasing for the altcoin.
Technical indicators:
RSI Indicator: The daily RSI line shows a sharp spike to cross above the halfway line and smolders off into a sideways shift. Despite that, the sudden increase in trend momentum supports the recovery thesis.
Will HNT Price Cross The $10 Mark?
In the 1D chart, the HNT price showcases a huge bullsih engulfing candle and displays a potential double bottom pattern. Further, the recovering market conditions may soon skyrocket Helium to a new 52-week high if the momentum sustains.
The sideline traders can find the $7.50 breakout as the decisive bull run signal that could test the $10 peak. Optimistically, the breakout beyond $10 can result in a longer uptrend for the altcoin.
On the flip side, a reversal might retest the 50-day EMA.
Source: https://coinpedia.org/price-analysis/hnt-price-aims-to-extend-the-17-jump-to-cross-10/